KEY POINTS
- A senior Biden advisor joined crypto leaders during a Democrat-hosted roundtable
- Bitcoin 2024 organizers confirmed that Trump will speak at the industry's largest event this year
- $BODEN is up by more than 22% in the last 24 hours, while $TRUMP took No. 1 on CoinGecko's top PolitiFi tokens
Crypto left a bad taste in the mouth of politicians during the industry's early days, but come 2024, the sector has apparently become a matter worthy of discussion in some political circles.
Biden campaign on the move?
The re-election campaign of incumbent President Joe Biden has been called out by cryptocurrency users in the past months due to its silence on digital assets, but recent reports revealed that the team could be working behind closed doors to understand the industry better.
On Wednesday, a senior advisor to the President graced a roundtable hosted by a Democratic representative, where crypto leaders such as Ripple CEO Brad Garlinghouse raised their concerns about crypto and politics.
Trump campaign steps up its game
Over in the Republican corner, former President Donald Trump's campaign has been painting the business mogul as someone who now embraces the crypto sector. Trump once referred to Bitcoin as a "scam," but in recent months, he has spoken more kindly about the industry and even promised to help Bitcoin mining in the U.S. to flourish.
Trump will appear as a speaker at the much-anticipated Bitcoin 2024 conference in Nashville later this month. It is considered as the largest crypto event this year and will feature some of the industry's key leaders and other candidates who have expressed support for the sector's growth.
Tokens move with the news
It appears tokens based on Biden and Trump were affected by news of the roundtable and the GOP presidential frontrunner's confirmed appearance at Bitcoin 2024.
On Thursday night, Biden-themed Jeo Boden ($BODEN) soared by over 13%, as per CoinGecko data. The token has been up by 22.4% in the last 24 hours and has been rallying at more than 70% in the past week.
Likewise, Trump-themed MAGA ($TRUMP) took the top spot in CoinGecko's Top 10 list of PolitiFi memecoins by market cap. It has seen a 4.8% in the last 24 hours and has been up by over 33% in the last seven days, as per data early on Friday.
A 'popularity check' tool
Max Jones, the co-founder of Solana blockchain memecoin Launchpad MemePad, previously said PolitiFi tokens "currently serve as an uncommon litmus test" for candidates seeking the U.S. presidency. The memecoins based on the candidates may also "serve as a popularity check," he said.
Crypto's voice will be heard
Mark Cuban, a billionaire and known advocate for digital assets adoption, has said that "crypto voters will be heard this election," adding that Congress should take note as well, not just Biden or Trump.
It is unclear just how much of the crypto voice will be heard in November 2024, but at least based on the Republican Party's 2024 Platform, it seems crypto has become big of an industry enough to take pole position in the GOP's innovation priorities.
