The first presidential debate between Joe Biden and Donald Trump excluded any mention of cryptocurrency. This occurred despite substantial lobbying efforts from the crypto industry. And it kinda hurts.
The 90-minute CNN-hosted debate took place on June 27 and focused on economic plans, abortion rights, immigration, and foreign policy, of course, Ukraine was often in the focus of discussion.
The candidates' mental capabilities were also briefly discussed. And that part of the show was priceless, to say the least, but let's get back to crypto.
Crypto lobbyists have raised significant funds for this election cycle. Three crypto-backed super PACs have amassed $202.8 million. They've spent $93.6 million to influence the 2024 elections.
Fairshake PAC leads the pack. It has raised $177.8 million and spent $70.8 million. Most of this went to attack ads for congressional candidates.
Two other super PACs, Protect Progress and Defend American Jobs, have spent $22.8 million. They raised $25 million combined.
These super PACs can accept unlimited donations. However, they cannot coordinate directly with campaigns. Together, they've raised the third-highest amount of any PAC.
Trump has promised to end Biden's "war on crypto" if elected. He recently met with Bitcoin miners, expressing support for American-made cryptocurrency.
Some industry figures see Biden softening his stance on crypto. However, others criticize the SEC's enforcement actions under his administration.
Gallup polls from May suggest crypto isn't a top priority for American voters. The economy, inflation, governance, and immigration rank higher.
Current polls show Trump leading Biden by a narrow margin. Kennedy is polling at 9.1%, according to FiveThirtyEight.