Coinbase CEO Brian Armstrong recently shared his perspective on the U.S. election outcome, framing it as a victory for the cryptocurrency sector. Armstrong emphasized that the election results have energized pro-crypto advocates and strengthened efforts to foster an economic environment more favorable to digital assets. 

More so, Armstrong sees these political shifts as an opportunity to secure the crypto industry’s future.

Coinbase CEO Declares U.S. Election a Big Win for Crypto

In a recent post on X, Coinbase CEO Brian Armstrong expressed his view that the 2024 U.S. election represents a landmark win for cryptocurrency. With 257 pro-crypto candidates elected to the House of Representatives, Armstrong noted that the incoming Congress will be the most supportive of crypto-related policies. 

Moreover, the CEO pointed out the bipartisan nature of this support, as pro-crypto candidates won in districts across party lines. Concurrently, the coinbase CEO also blamed the previous administration for trying to kill the crypto industry. He emphasized, 

“The country fully repudiated the work of Senator Warren and Gary Gensler who tried for years to unlawfully kill our industry. They both should take their share of responsibility for the loss of their party (along with Biden and Harris for letting them run amuck).”

According to Armstrong, the crypto industry’s appeal to both sides of the aisle was a strategic advantage in the election. Armstrong also revealed that Coinbase and its advocacy groups focused on electing candidates who favor technological innovation and economic freedom. 

Additionally, He highlighted that the message of economic freedom resonated with voters. Armstrong sees this trend as a foundation for bipartisan support for crypto legislation moving forward.

Fairshake Fund Boosts Pro-Crypto Efforts for 2026

To solidify these gains, Coinbase CEO Armstrong discussed the role of Fairshake, a pro-crypto fund, in supporting candidates who back the crypto industry. Fairshake, which is partly funded by Coinbase, has already secured $78 million for the 2026 election cycle. Most recently, Armstrong said there will be no slowdown in pro-crypto advocacy post-US election, committing an additional $25 million to Fairshake PAC. 

The CEO noted that Fairshake’s financial commitment reflects the industry’s long-term strategy to secure a stable regulatory environment in the digital asset space. Similarly, StandWithCrypto, another initiative supported by Coinbase, is also set to expand, aiming to grow its network to 4 million members by 2026.

In addition, Brian Armstrong clarified that Coinbase does not charge projects a premium fee for listings. Addressing concerns on social media, Armstrong stated that the exchange supports fair access to its platform for emerging projects. He also suggested that decentralized exchanges can also provide alternatives to centralized listing hurdles.

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Solana co-founder Anatoly Yakovenko called on the electorate to focus more on the political programs in the upcoming 2024 U.S. presidential election. He advised voters to look beyond a vote for president between Donald Trump and Kamala Harris and research each for their stance on important matters.

Solana Co-Founder Urges Voters To Research Key Issues Ahead of US Election

In a recent tweet, Solana Co-founder Anatoly Yakovenko emphasized the stability of the U.S. political system, noting that both federalism and democracy are functioning as intended. He argued that the close 2024 US election race demonstrates how both political parties have adjusted their messages to achieve broad voter appeal.

 The Solana Co-founder encouraged voters to consider policy over personality and advised against focusing on how others plan to vote.

Yakovenko suggested that voters choose a single important issue and examine each candidate’s position, using original sources. He emphasized that analyzing the candidates’ views without relying on out-of-context sound bites could lead to a more informed voting decision.

More so, the Solana Co-Founder stated, 

“Harris isn’t communist and Trump isn’t a nazi.  US is going to be fine either way.  The fact that it’s 50/50 means that democracy and federalism are functioning as designed.  Each party had to adjust its message to try to get to a stable majority.”

Crypto Sector Prepares for Increased Influence Post-US Election

With the 2024 US election fast approaching, the crypto industry anticipates a bipartisan increase in crypto-friendly lawmakers. In recent years, crypto investors and lobbyists have ramped up their political presence, spending over $160 million during this election cycle. Many new representatives are expected to add to a pro-crypto voting bloc in Congress.

Under the Biden administration, crypto-related businesses have largely faced regulatory challenges, particularly from SEC Chair Gary Gensler. A recent report indicated that U.S. SEC enforcement actions have cost crypto firms $400 million in compliance expenses. 

Hence, a change in administration or a more balanced Congress could pave the way for policies that support the industry’s growth. This potential influx of crypto-friendly lawmakers is critical for advancing the crypto sector.

Additionally, Crypto investors are preparing for potential Bitcoin price swings as election day draws closer. However, Bitcoin price saw a 13% increase in October, partly fueled by speculation around Donald Trump’s potential return to office as a pro-crypto candidate. 

However, Trump’s election odds took a slight dip in betting markets, affecting sentiment among crypto investors. The market saw a pause in the rally for Bitcoin and other altcoins as Trump’s chances of winning fell by 4.5%, according to Polymarket data. This shift indicates a cautious approach among investors amid the possibility of a tighter race.

This development underscores the stakes for crypto investors and highlights the dynamics between political sentiment and the crypto market ahead of the US election.

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Ever since Rich Dad Poor Dad was launched in the market, the author Robert Kiyosaki has become a big finance personality in the industry. The author is actively present on X, often sharing his perspectives around particular assets or investment strategies. In this, he has never missed the opportunity to advocate for hard assets like Bitcoin, Gold, and Silver in the last many years. More importantly, he has actively advised the readers to invest their hard-earned money in these, not the US dollar or fiat, as that is fake, making people poorer over time. Even in cryptocurrencies, Robert has never talked of any other digital asset than BTC, confirming his trust in this token only. Interestingly, in a recent X post, he revealed the answer to why he loves it so much.

Why does Robert Kiyosaki Love Bitcoin?

Robert Kiyosaki has always claimed that fiat is fake and is pushing people towards a poorer lifestyle. He says that fiat is keeping people poor, and if they could get out of the traditional financial system and invest in Bitcoin and other hard assets, they would grow rich. His most recent post also focused on this, appealing to the readers to make the right investment decision. He pointed out the major difference between BTC and the dollar and why they should invest in the first.

BTC is not under any government’s control, and its total quantity is limited, so there is a higher possibility of growth. As the US government or any third party could not print more Bitcoins, it is maintaining a scarcity. As a result, its value and demand are constantly rising in the market.

WHY I LOVE BITCOIN: When I save FAKE fiat US dollars I grow poorer.

When I save Bitcoin I grow richer.

That’s why I love Bitcoin.

— Robert Kiyosaki (@theRealKiyosaki) October 30, 2024

Many other reasons, including its limited supply, have helped the BTC price grow by 63% YTD, currently valued at $69.7K. However, the same growth is not possible in the case of the dollar. The biggest reason behind this is the US government printing more money instead of tackling issues like rising debt and inflation. It makes BTC a more favorable investment option than keeping fiat.

Robert Kiyosaki also expressed concerns over the rising US debt earlier, predicting that the future generation will struggle to pay. This is why he loves Bitcoin, as it preserves his wealth and helps him grow richer.

US Election and Bitcoin’s Future

As the US presidential election is just around the corner, the battle is fierce between ex-president Donald Trump and Vice President Kamala Harris. Earlier, he was winning the Trump-Harris polls on the Polymarket with a huge margin, but the difference has gotten shorter today. With that, the netizens are active and continuously supporting their desired candidates.

Here, Robert Kiyosaki has also decided his side, but in a recent post, he clarified that he is supporting financial independence and voting for The Bitcoin Standard, not the person.

When money is abundant….then products of life …. Become plentiful and inexpensive.

That is why I love Bitcoin and life.

When money becomes scarce and expensive….so does the price of life and the abundances of life.

I support the Bitcoin Standard of life…. Because I…

— Robert Kiyosaki (@theRealKiyosaki) November 2, 2024

With this, he has revealed that his vote is not about the political figure but what they support. This year, Donald Trump has become a pro-crypto supporter and promised to build the right future for this technology, and industry leaders like Robert and Elon Musk are supporting him. With this post, he again clarified why he loves BTC, saying that, “when money is abundant, the products of life become more plentiful and expensive and vice versa.”

Why Does Robert Kiyosaki’s Perspective Matter?

Robert has been sharing financial advice for decades, but this is more than just sharing views. Instead, he is introducing netizens to other assets and options. Interestingly, not many of these Robert Kiyosaki predictions have come true, but many will agree that digital assets are the future of the financial market. However, this might not happen just instantly, as the world and government agencies are slowly opening to accepting this idea.

In his recent posts, he has mentioned the things that make Bitcoin a suitable investment option, especially considering its  63% YTD growth rate. However, he is not the only one with this perspective, as others like Bitwise CIO will agree on the same. This is why the Crypto investors are eyeing US elections, as this could boost the market to new highs.

The post Robert Kiyosaki Loves Bitcoin For One Specific & Simple Reason appeared first on coinpress.

Coinbase CEO, Brian Armstrong, announced that Coinbase would not scale back on its crypto advocacy following the U.S. election results, which are expected in six days. Armstrong’s statement emphasized that they are committed to securing a favorable environment for crypto in U.S. legislation post-November US election.

Consequently, Coinbase has pledged an additional $25 million to support the pro-crypto super PAC, Fairshake PAC to back crypto-friendly candidates leading into the 2026 midterm elections.

Coinbase CEO Brian Armstrong Reveals What’s Next Post US Election

In a recent post on X, Brian Armstrong stated that Coinbase remains steadfast in its advocacy for crypto legislation. Despite the outcome of the U.S. election, Coinbase CEO emphasized that the firm would continue its pro-crypto efforts, highlighting a new $25 million commitment to Fairshake PAC, a super PAC that supports crypto-friendly candidates. 

The donation will boost crypto representation in Congress during the 2026 midterm elections and improve the crypto regulatory environment in the U.S.

Fairshake PAC, known for its advocacy through digital and broadcast platforms, has previously utilized industry contributions to back candidates who support innovation and growth in the crypto space. Josh Vlasto, Fairshake spokesman added, 

“We look forward to continuing to build a long-term sustainable crypto coalition that will pass responsible regulation to protect consumers and ensure the United States continues to lead the way in technological innovation, growth, and jobs.”

This latest initiative adds to Coinbase’s cumulative $75 million in political spending this cycle.

Coinbase CEO Brian Armstrong also mentioned their support for its affiliate advocacy group, Stand with Crypto (SWC), which aims to increase its membership to 4 million by 2026. The group’s mission is to engage more crypto-friendly voters, educate them on policy issues, and mobilize them in key swing states. Currently, the group has registered over 100,000 new voters across states where crypto regulation remains a pressing issue.

The crypto community has continued to gain traction as a voting bloc, with nearly 1 in 5 Americans reportedly owning some form of digital asset. With this sustained momentum, Coinbase CEO aims to solidify the crypto vote as a key component of U.S. politics.

 More so,  Brian Armstrong  emphasized, 

“The crypto voter is already a force to be reckoned with, but it will continue to grow.“

Q3 Earnings Miss As Market Challenges Persist

In its recent Q3 earnings report, Coinbase noted lower-than-expected results due to decreased trading volumes, which led to a 27% decline in transaction fees. Revenue for the quarter fell below analyst expectations, attributed to ongoing market challenges. Despite this, Coinbase continues to diversify its offerings, with growth in staking, USDC transactions, and custody services contributing to a more resilient revenue stream.

Moreover, the digital asset platform recently partnered with Visa, allowing Visa debit card holders to instantly deposit funds into their accounts. This collaboration will provide users with 24/7 access to trading. 

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Bitwise Chief Investment Officer Matt Hougan commented on the potential impact of the upcoming U.S. presidential election on cryptocurrencies. He suggested that a Donald Trump victory may be more favorable for Ethereum and other altcoins than for Bitcoin. According to Hougan, altcoins stand to benefit from a Trump-led administration due to anticipated regulatory clarity. Hougan’s comments, shared just days before the November 5 election, indicate the market’s growing anticipation.

Bitwise CIO: Regulatory Clarity Under Donald Trump Could Spark Altcoin Rally

In a recent interview, Bitwise CIO Matt Hougan suggests that regulatory clarity under a Donald Trump administration could benefit Ethereum and other altcoins more than Bitcoin. Hougan explained that while Bitcoin is already well-regulated as a commodity under the SEC and CFTC, other cryptos face a less certain regulatory environment. 

For Ethereum and similar assets, a Trump victory might reduce ambiguity, creating a more favorable landscape for development and investment. The current lack of clarity has left some altcoins like XRP exposed to varying levels of scrutiny.

For Bitwise CIO Hougan, the possibility of clearer guidelines and more stable frameworks under Trump could allow altcoins to thrive in ways they haven’t before. Altcoins typically involve a broader range of use cases, including decentralized finance (DeFi), cross-chain interoperability, and smart contracts that require tailored regulatory approaches. 

Hougan believes a Trump administration may take a more hands-off approach, which could encourage innovation across the altcoin market. These sentiments are shared across the crypto space. Most recently, Founder and CEO of Consensys, Joseph Lubin, emphasized that the US SEC’s regulatory actions have led to “lost jobs and halted productive investments” in blockchain.

Moreover, Hougan emphasized that broader regulatory clarity would likely drive institutional adoption across the altcoin market. Large institutions often wait for explicit guidelines before entering emerging markets. According to Bitwise CIO Hougan, clearer regulations would help reduce market volatility and make it easier for institutions to manage risk. As a result, a Trump administration prioritizing crypto clarity might unlock capital flows into the altcoin space

Polymarket Betting Odds Favor Donald Trump

Recent data from Polymarket, an Ethereum-based prediction market, indicates growing confidence in a Republican win. coinpress recently reported the former president’s winning odds reached an all-time high of 66.7%. Polymarket has seen a surge in betting activity during this election season, amassing over $3 billion in cumulative wagers. More so, analysts from Presto have noted that a Trump-led Republican sweep in the presidency, Senate, and House could improve the chances of passing crypto-friendly legislation.

However, Polymarket has come under scrutiny for alleged wash trading, which may have artificially inflated trading volumes and popularity metrics. Blockchain analysis firms Chaos Labs and Inca Digital reported that about one-third of Polymarket’s trading volume could be attributed to wash trading. 

Meanwhile, Amid Bitwise CIO prediction, Elon Musk has announced an investigation into the Kamala Harris campaign’s alleged use of Discord to coordinate social media support. Reports suggest that campaign volunteers were instructed to manipulate social media algorithms. 

In addition, according to a report by coinpress, some prominent U.S. politicians remain opposed to cryptocurrencies. The report noted figures like Senator Elizabeth Warren, Sherrod Brown, and Congressman Brad Sherman actively supported anti-crypto legislation. Their stance could influence crypto-related legislation, depending on the outcome of the upcoming US election.

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In a recent statement, Polymarket CEO Shayne Coplan addressed accusations of market manipulation on the platform’s prediction markets for the US Election. Coplan emphasized Polymarket’s non-partisan and transparent operating principles amid rising concerns about large bets impacting odds.

Polymarket CEO Stands Firm Against Manipulation Allegations

In a detailed post on X, Polymarket CEO Shayne Coplan reiterated the platform’s non-partisan stance. This response followed a New York Times article that described the prediction platform as a “crypto-powered gambling website.” The article noted high odds favoring Donald Trump in the US presidential prediction market. At the time of manipulation claims, Donald Trump odds against Kamala Harris hit 60% for the first time.  

CEO Shayne Coplan, 

“We get told we’re Dem operatives and MAGA, depending on the day.  Polymarket is not about politics. The vision never was to be a political website, and it still isn’t. From launch day, the goal has been to, harness the power of free markets to demystify the real-world events that matter most to you.”

Coplan stressed that Polymarket functions as a unique alternative data source rather than as a political influence.

Market manipulation concerns increased after the betting platform disclosed that a French national placed a $45 million cumulative bet on Trump. The wager was spread across four accounts, leading to speculation about market manipulation. However, Shayne Coplan clarified that this investor’s actions were not linked to any manipulation effort.

Coplan emphasized that Polymarket operates on a decentralized, peer-to-peer model. This design, he explained, ensures no single entity can control market prices. All transactions are open to public view, making the platform highly transparent.

CEO Shayne Coplan emphasized, 

“the market sets the price, not the operator. There is no “house” setting the odds. It’s the invisible hand, not the thumb on the scale.”

Election Betting Volume Surges as Election Approaches

Interest in the US Election prediction market has driven Polymarket’s betting volume to new heights. The platform reported $2.4 billion in total volume for its 2024 election market, while October alone saw a cumulative monthly volume of $3.69 billion. This growth reflects intensified interest as participants seek to express their views on the upcoming election.

The betting surge has brought substantial attention to the betting platform. Coplan clarified that participant sentiment alone determines the odds. This surge in activity has solidified Polymarket’s role as a data-driven tool, distinct from traditional gambling.

Moreover, odds on the platform currently show a tight race between Trump and Harris. Trump holds a 64.1% chance of winning, compared to Harris’s 36.1%. Coplan noted that these odds reflect positions taken by market participants, with no influence from the firm. 

This clarification comes as Ripple CTO David Schwartz recently warned the public against reacting to unverified anti-Trump rumors circulating online. Schwartz emphasized the need for patience and fact-checking ahead of the upcoming US election.

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The Massachusetts Senate seat turns out to be of prime importance as XRP lawyer John Deaton takes on the anti-crypto Senator Elizabeth Warren in the upcoming US elections. Senator Warren has recently claimed that Deaton’s 90% of campaign funding comes from crypto donations. However, market experts threw some light exposing the lies behind Warren’s claims.

Is Senator Warren Bluffing on Crypto Donations

As per the latest report, cryptocurrency donations in US elections have topped over $190 million. This happened as cryptocurrencies took center stage in the battle between Kamala Harris and Donald Trump.

In her debate earlier this month, Senator Warren continued to stress that Deaton’s campaign is “90% funded by the crypto industry”. Fox Business journalist Eleanor Terret did some digging to find the truth behind these claims.

Terret has reported that John Deaton’s political campaign has raised a total of $2 million. Of these, $1 million comes from a personal loan Deaton made to himself. This leaves around $1 million in contributions from individual donors.

Now, as per the FEC filings, under $100,000 of these individual donations come from the crypto industry. This shows that only 10% of Deaton’s outside funding comes in the form of crypto donations.

Eleanor Terret added that even if we include the funds raised by the Commonwealth Unity Fund, a super PAC that has collected an additional $2.5 million, the crypto industry’s share of contributing to John Deaton’s political campaign surges to 60%, which is still short of 90% claimed by Senator Warren.

This is not the first time that anti-crypto Elizabeth Warren has been caught lying. Earlier this week, Elon Musk along with Attorney Deaton snubbed Warren over her inflation claims.

John Deaton’s Support to the Crypto Industry

In the SEC vs Ripple lawsuit spanning over the last four years, John Deaton has been actively assisting the Ripple camp to sail through the regulatory hurdles.

Despite the recent criticism from Senator Warren, XRP lawyer Deaton said that he would continue to support the XRP community ahead. Over the last four years, John Deaton provided pro bono legal services to approximately 75,000 token holders, including 627 Massachusetts residents.

“Whether she remains a U.S. Senator or returns to private citizenship, I intend to continue representing these token holders in this ridiculous appeal made by the SEC,” Deaton stated. He also emphasized the importance of advocating for token holders, adding that ‘America must be a leader when it comes to innovation.’

Amid his pro-crypto stand, top crypto industry leaders like Ripple CEO Brad Garlinhouse and Coinbase’s Brian Armstrong have extended their support to the Republican nominee in the upcoming elections.

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Fairshake, a political action committee bankrolled by some of the biggest players in cryptocurrency, including Coinbase Global Inc., Ripple Labs, and venture-capital firm Andreessen Horowitz, has poured nearly $40 million into Ohio since August to push against anty-crypto Senator Sherrod Brown.

As chairman of the Senate Banking Committee, Brown’s vote is crucial to any additional cryptocurrency legislation, and the aggressive campaign Fairshake has levied against him showcases the growing political clout of the industry. All current political dynamics underscore how financial might reshapes electoral outcomes, most especially in hotly contested Senate races.

Sherrod Brown’s Senate Seat Under Siege as Crypto PACs Spend Big

Crypto-backed political action committees – Fairshake leading the charge – were spending $800,000 daily by mid-September. The point was flipping Ohio’s Senate seat from longtime Democratic incumbent Sherrod Brown to Republican challenger Bernie Moreno.

Brown is a loud critic of cryptocurrency, often citing the harm it poses to the average consumer. Moreno, conversely, is a blockchain entrepreneur who has vowed to be friendly to the industry. Moreno’s $40 million plus in support came from crypto donors. His success in that race would eliminate one of its most strident critics, Sherrod Brown, while helping lock in Republican control of the crypto-Congress.

So far in 2024, the crypto-centric super PAC Fairshake and its affiliates have spent $54.6 million on behalf of Republicans. $33.7M was spent on behalf of Democrats, an advantage of 62% for the GOP.

Pro-Crypto PAC Fairshake has spent over $40 million on efforts to unseat Democratic Ohio Senator @SenSherrodBrown.

Ironically, that could give someone even more anti-crypto — Elizabeth Warren — the power to block crypto legislation.

1/

— Veronica (@vronirwin) October 23, 2024

Sherrod Brown, Chairman of the Senate Banking Committee, which will write the critical legislation regulating cryptocurrencies, is in one of the most powerful positions. Moreover, if he does win re-election, he might be hostile to an industry that has actively worked against him.

If Brown loses his seat but Democrats retain the Senate, that likely puts Elizabeth Warren, the loudest cryptocurrency critic in Congress, the head of the committee.

If you live in Ohio and care about crypto succeeding in America, you should vote for @berniemoreno in the Senate.

His opponent, Sherrod Brown, has been a blocker to sensible crypto legislation in America at every step of the way, refusing to meet with people from the crypto…

— Brian Armstrong (@brian_armstrong) October 23, 2024

This is a perilous development for the crypto industry, as it places Warren at the helm. This would allow one of crypto’s most vehement adversaries to delay or defeat legislation that is deemed important. If the elections do not go as Fairshake might like, the bills could sit for at least the next two years.

Crypto Surpasses Traditional Political Boundaries, Appeals to Both Parties

The former acting White House Chief of Staff under the Trump administration, Mick Mulvaney, believes cryptocurrency is an industry surpassing conventional US political limits and borrows from Democrats and Republicans.

Mulvaney said crypto “does not fit neatly into the old Republican, Democrat sort of silos,” showing its bipartisan appeal.

He added that legislators’ thinking, like crypto, must change to accommodate these ideas. Mulvaney also commented on the industry’s maturation. He noted how once purely a grassroots effort has evolved into professional lobbying in Washington.

He said:

“It is a new industry, it’s starting to mature a little bit — not much. I remember about four years ago when I was doing this: their effort in DC was effectively people sitting in their basements writing nasty letters to their lawmakers. Now, they have professional operations.”

Most October polls show the race between Trump and Harris as close, even in some key battleground states. This close competition could allow either candidate to win the Electoral College. Because of this, their positions in emerging industries such as crypto are bound to become quite important.

Former President Donald Trump, who touted himself as a pro-crypto candidate in a September interview, supported the industry. His sons launched a cryptocurrency trading platform called World Liberty Financial in September.

Meanwhile, Vice President Harris has supported regulatory oversight of the sector to protect participants. According to Mulvaney, one of crypto’s most outspoken critics, except Sherrod Brown, is Sen. Elizabeth Warren. Anti-crypto Warren was recently criticized by John Deaton, a pro-XRP lawyer, who called her greedy.

Mulvaney: Crypto’s Political Clout to Surge in 2024 Election

Mick Mulvaney served as White House chief of staff until March 2020, when he was tagged as a US special envoy for Northern Ireland. He later resigned over the storming of the U.S. Capitol by Trump supporters on January 6, 2021.

A contributor to NewsNation now, Mulvaney described the 2024 election cycle as indicative for the cryptocurrency industry, when its clout will be “fascinating to see” as it becomes a more significant factor in the next couple of election cycles.

To that end, the political action committees Fairshake, Defend American Jobs, Protect Progress, and the Commonwealth Unity Fund have spent millions to date in support of the pro-crypto candidates and remove anti-crypto personas such as Sherrod Brown. As such, with only 13 days remaining before elections in the US, attention is shifting to winning last-minute voter support for the candidates sympathetic to crypto.

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Ripple CTO David Schwartz has recently urged the public to await verified information before reacting to unconfirmed reports concerning Donald Trump. Amid swirling rumors of a significant anti-Trump story poised to break, Schwartz emphasized the importance of verification to prevent misinformation from spreading.

This warning comes amid reports that the UK Labour Party may have interfered in the U.S. presidential election. Following these reports, Donald Trump has filed a legal complaint against the UK Labour Party, accusing them of interfering in the White House race to support Kamala Harris.

Ripple CTO Urges Verification Amid Donald Trump Rumors

In a recent post on X (formerly Twitter), Ripple CTO David Schwartz called for caution in reacting to rumors about an impending anti-Trump story. Schwartz stressed that the public should wait for confirmation or refutation of the story before accepting it as truth. His statement comes at a critical moment in the U.S. presidential race, where misinformation can potentially sway voter opinions.

More so, Ripple CTO David Schwartz’s warning comes at a time of heightened tensions with the U.S. presidential election just 12 days away. As the race tightens, any unverified reports could impact on voter decisions, making fact-checking more crucial.

David Schwartz emphasized,

“I’d like to caution people to please wait for confirmation or refutation before acting like its truth matches what you want its truth to be. Please don’t be that guy.”

Trump Campaign Files Complaint Against UK Labour Party

Amid the heightened tensions of the election, Donald Trump’s campaign filed a legal complaint accusing the UK Labour Party of illegal interference. According to the complaint, Labour Party members were allegedly sent to the U.S. to support Kamala Harris’s campaign. Consequently, Trump team has moved to claim that the actions violate U.S. campaign finance laws.

The complaint submitted to the Federal Election Commission argues that the actions of Labour strategists and staffers amount to foreign contributions. This development adds a new layer of complexity to the U.S. election, raising questions about international involvement.

However, despite the alleged support by UK Labour Party, Polymarket data show Donald Trump leading Kamala Harris by a notable margin. Current data indicates Trump’s chances of winning have increased to 65.7%, while Harris’s likelihood has fallen to 34.4%.

Moreover, Ripple CTO David Schwartz’s misinformation warning comes amid recent claims of market manipulation on Polymarket. Concerns have been raised that a few large bets, totaling $25 million from four users, have influenced the prediction market, leading some to question the integrity of the platform.

In a related development, JPMorgan’s CEO Jamie Dimon has expressed private support for Kamala Harris in the U.S. presidential election. Though Dimon has refrained from making a public endorsement to avoid potential backlash from Trump supporters. 

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The BTC price has once again come under selling pressure facing rejection at $69,000 levels as the focus shifts towards key macro developments in the US market. With US Treasury Yield hitting 3-month highs, the concerns of inflation are back again. On the other hand, the upcoming US elections and the chances of Donald Trump’s presidency have been weighing over the crypto market sentiment.

BTC Price Action Amid Rising US Treasury Yield

Ever since the FOMC meeting, the Bitcoin price has gained by 18% spurred by Fed Chair Jerome Powell indicating that interest rate cuts will continue. While this has fueled bullish momentum in the crypto space, the developments in the US Treasury Yield suggest otherwise.

According to the CNBC data, the US 10-Year Treasury Yield rose to 4.2% on Tuesday, for the first time in three months since July 26. On one hand, while the Fed decided to cut rates by 50 basis points, the Treasury yields have gained by a similar magnitude.

Furthermore, the bond yields have also hit the highest levels at 4.06% since August 20. Treasury yields, which reflect market expectations for monetary policy, indicate that investors now foresee higher interest rates in the coming years despite the Fed’s significant rate reduction. Although the market expects rate reductions in November or December, increasing bond yields are drawing attention to inflation risks.

The BTC price is currently trading 0.74% down at $67,033 with a market cap of $1.325 trillion. On the other hand, the upcoming US elections are also on investors’ radar as Donald Trump increases his lead over Kamala Harris in the prediction market.

In its report, 10x Research noted that the rising election odds of former President Donald Trump may alter the Fed’s strategy, potentially forcing a pause in rate cuts due to his pro-growth economic policies.

It’s Now or Never for Bitcoin

Popular crypto analyst Skew noted that the recent pullback in the BTC price in early week trading remains on the expected lines. Skew indicated that Bitcoin needs to establish a new higher high by midweek to demonstrate its strength.

“Ideally, if this market is truly robust, the price should make a higher high around midweek above $69K,” he added. On the downside, a chart highlighted the $65,000 zone as a key target, along with several short-term exponential moving averages (EMAs).

$BTC 4H
Shallow pullback as expected into early week trading

Structure still intact here
– HLs

Ideally if this market is actually strong price should make a HH around mid week above $69K

Deeper pullback would be around $66K – $65K + 4H/1D EMAs https://t.co/nMTdv48Aca pic.twitter.com/UuqLl1BB2J

— Skew Δ (@52kskew) October 21, 2024

On the other hand, the commodity markets are flourishing with Gold and Silver hitting multi-year highs. Market analysts are predicting that if Bitcoin replicates Gold rally, its price could surge all the way to $230,000 moving ahead.

The post BTC Price: How Rising US Treasury Yield and US Election Can Impact Next Move appeared first on coinpress.

With the bulls showing dominance and the user’s sentiments turning greedy, the Bitcoin price is playing bullishly, and the upcoming US election has played a role in that. Now, the US Presidential election are just two weeks away, creating hype around the next president’s name and how it will impact the crypto market.

Interestingly, all candidates have interacted with the crypto community, making many predict that the election outcome would not impact the BTC price rally. However, Donald has made many advances in interaction with the crypto community, including the launch of World Liberty Financial. With that, a few believe Trump’s win will boost the BTC price more. Amid this confusion, a few AI chatbots have made the most straightforward Bitcoin price prediction for the post-election days.

Bitcoin Price Prediction Per 9 Popular AI Chatbots

Donald is leading the race on Polymarket with 60% votes in his favor. However, Kamala is winning in the mainstream media polls, confusing the netizens. More importantly, people are curious about how their presidency will impact the BTC price and the rest of the crypto market.

A few analysts asked the top nine AI chatbots to make an accurate Bitcoin price prediction for the past election days. The bots like Chatgpt (4,4o,01), Inflection Pi, Google’s Gemini, Microsoft’s Co-Pilot, and many others were a part of this experiment, and the results were impressive. Among these, eight provided an answer based on their knowledge of the subject, but Gemini refused, leaving only eight answers to analyze. The analysts provided a common prompt to these and asked the AI chatbots to foresee the future of the biggest crypto token.

This experiment aims to predict where bitcoin’s price will land once the 2024 U.S. election wraps up. As an expert in the world of bitcoin and crypto assets, your task is to evaluate the likelihood of bitcoin’s price under two scenarios: if former President Donald Trump clinches the victory or if Vice President Kamala Harris takes the win. Considering what you know about these two political figures, you’ll need to put forward a dollar amount estimate for each outcome. So, in your professional opinion, what’s bitcoin’s price tag if Trump wins, and what will it be if Harris secures the presidency? Bitcoin is trading for $69K at the time of writing.

Openai’s Chatgpt (4,4o,o1) Bitcoin Price Prediction

ChatGPT is among the most famous AI Chatbots and is often used in crypto market forecasting. In this, Chatgpt 4 predicted that there is quite an uncertainty around the election outcome. However, if Donald Trump wins, the market might witness volatility before pumping the BTC price to $75K. In contrast, with Harris’s win, the price may hover around $70k, closer to the current level.

Talking of Chatgpt 4o, it predicted that Trump’s win could push the BTC to $75K to $80K. This analysis was made after analyzing his prior administration, but Kamal’s presidency could push it down to $60-$65K based on her tighter regulation and tax policies.

Lastly, the o1 mini analyzed that Trump’s win could bring stricter regulation, where his conservative approach could push the BTC price to $60K. However, its analysis reveals that Kamala’s presidency will bring more favorable regulation. With it, the market can expect the price to reach almost $85K.

Microsoft’s Co-Pilot

Microsoft’s Co-Pilot called the US election result speculative, but Donald’s win could boost the Bitcoin price to as high as $90K, thanks to his pro-crypto stance. Interestingly, it also revealed that the price might stay bullish in Kamala’s win, where it might stabilize at $75K.

Venice.ai BTC Price Prediction

After analyzing the current political climate and market trends, Venice.ai predicts that Donald Trump’s victory could push the BTC to $85K-$90K. It clarified that this Bitcoin price prediction is based on Trump’s pro-market policies and his deregulation plans, which might boost investor’s confidence. It will increase the capital investment in the crypto market, bringing new gains. However, the price may stay at $75K-$80K amid Kamal Harris’s administration, as she might focus more on crypto regulation, leading to uncertainty among investors.

Anthropic’s Claude 3 Sonnet

Anthropic’s Claude 3 Sonnet also called Trump’s victory a more favorable condition for the token’s future. It believes that the BTC price might grow as high as $85K with his win, with his pro-crypto stance. However, Harris’s administration could bring stricter regulations, pushing the token down to $65K. However, it is also evident that these are not the only factors impacting the future of this digital asset, as many others could influence its price trajectory.

Mistral AI’s Le Chat Bitcoin Price Forecast

After understanding the impact of political events on Bitcoin, Mistral AI’s Le Chat believes that Donald’s pro-business and deregulatory stance will boost the token price higher, where it can hit the $85K mark with his presidency. However, during the VP’s presidency, the BTC price might increase modestly to $75K because of her focus on regulations and social policies. More importantly, it also mentioned that there is a possibility that the outcome might vary due to many technical factors and global economic events.

Inflection AI’s Pi

Inflection AI’s Pi believes a modest uptick to $71,500 in the case of Donald’s presidency. This AI chatbot focused on the previous presidential experience with Trump, where his economic policies were perceived as inflationary, and the same might happen this time, which could boost the BTC price. However, in contrast, the price might hover around $67,500, calling Kamala’s stance on cryptocurrencies less known, which could cause uncertainties.

What’s There For You In This Bitcoin Price Prediction?

Except for Gemini, all these AI Chatbots had some sort of prediction for the biggest cryptocurrency, where almost all predicted that Donald Trump’s win could result in better Bitcoin performance. Interestingly, the Chatgpt o1 mini believes that Kamala Harris’s win could be much more significant in pushing the crypto market, where the Bitcoin price might rise past $85K. With the AI chatbots having mixed results with the US election result outcome, the same is happening with the netizens in real life. However, the Presidential elections are a major economic event that will boost the crypto industry in one way or another. Regardless, the Bitwise CIO predicted that the BTC price might hit ATH even before the elections.

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With the US Presidential Elections in 2024 just two weeks away from now, crypto donations have been once again in the limelight while crossing $190 million. Crypto industry veterans and attorneys like John Deaton are making the final push by convincing voters of healthy crypto environments in the US.

US Election Crypto Donations on the Rise

Crypto political donations have topped $190 million in the US Presidential Elections 2024 this year with the CNBC report stating that $130 million out of which have been spent on congressional races including the primaries.

2024 elections have received $190 million of #crypto donations

pic.twitter.com/k3ksYu2bmF

— Quinten | 048.eth (@QuintenFrancois) October 21, 2024

The discussions around crypto donations have caught fire once again as Ripple’s Chris Larsen has been donating massive sums to Democratic nominee Kamala Harris. Recent reports suggest Larsen has donated over $10 million to Kamala Harris which has led to a major outrage from the XRP community. Previously, Larsen also donated $1 million in XRP to the Harris Victory Fund.

This is surprising considering the fact that the Biden administration waged an all-around war on Ripple over XRP sales as securities. Commenting on this development, Ripple co-founder Brad Garlinghouse said: “We need to immediately change course from this administration’s misguided war on crypto”.

Donald Trump PAC Raises $7.5 Million

A political action committee (PAC) backing former President Donald Trump has raised approximately $7.5 million in cryptocurrency donations. Donors to the Trump 47 joint fundraising committee contributed in Bitcoin, Ethereum, XRP, as well as dollar-pegged stablecoins like Tether (USDT) and USDC, according to a filing with the Federal Election Commission.

Fairshake, one of the top-spending PACs this year, has been targeting close House races in US elections. Last month in September, the committee gave out a total of $29 million. Of the total, $20 million went to two affiliated political action committees (PACs) including:

1. $15 million to the Defend American Jobs PAC, a Republican-leaning committee focused on cryptocurrency and blockchain policy.
2. $5 million to Protect Progress, which exclusively supports Democrats.

Fairshake spent the remaining $8.8 million on House races in New York, Nevada, and California. Speaking to CNBC, Crypto market analyst James Delmore said:

“Fairshake’s donations to candidates in toss-up districts are critical. It’s not just about securing pro-crypto politicians in key House seats, but also maintaining California’s position as a hub for the crypto industry.”

Impact on the Crypto Market

The crypto market has more or reacted positively to the rising odds of Trump’s election-winning chances. Also, as per the Polymarket data, Donald Trump has taken considerable lead over Kamala Harris with his odds of winning surging to 63.5%.

With Bitcoin surging to $69,000, altcoins also joined the crypto market rally over the past weekend. However, the market faces rejection as crucial resistance levels waiting for the next big trigger.

Thus, market analysts are hopeful that if Donald Trump gets re-elected to the White House, it will be beneficial to the broader crypto industry during his tenure. Ryan Lee, Chief Analyst at Bitget Research said:

“The main drivers are Trump’s rising odds of winning the election and a technical rebound in Bitcoin’s price. Trump is a known supporter of Bitcoin, and his increasing odds of winning are seen as a positive signal for the market”.

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John Deaton, a pro-XRP lawyer, criticized Senator Elizabeth Warren’s comments attributing rising prices to corporate greed. Deaton argued that the true cause of inflation is government actions, specifically the printing of money by central banks. 

He emphasized that such inflationary policies have historically led to the devaluation of the US dollar and contributed to the country’s current economic challenges.

John Deaton Challenges Sen. Warren’s Take, Blames Government For Inflation 

Replying to Senator Warren’s tweet on  X, Deaton highlighted that since the establishment of the Federal Reserve in 1913, the US dollar has devalued by 98%. He pointed out that a significant amount of US currency was printed in the last four years, correlating with the highest inflation rates seen in four decades. 

Additionally, the pro-XRP lawyer referenced former Treasury Secretary Larry Summers, who had predicted severe inflation if monetary expansion continued under current policies. More so, John Deaton accused Senator Warren of supporting such policies and expressed a strong desire to debate these topics publicly.

The pro-XRP lawyer added,

“If  Senator Warren would’ve accepted my single issue debate challenge, which included inflation, we would’ve debated the issue of inflation for one hour.”

However, Senator Warren has consistently framed the issue of rising prices as a result of corporate greed. She advocates for stricter regulations on major corporations to curb price increases at essential places like grocery stores and gas stations. Warren’s approach targets a crackdown on what she perceives as exploitative pricing practices that harm consumers and exacerbate economic inequality.

Meanwhile, John Deaton’s critique extends to Warren’s overall economic policies, which he views as misguided and harmful to economic stability. This sentiment is part of a broader discourse on the role of government in regulating emerging technologies and financial systems. 

Similarly, the crypto industry has expressed frustration with Senator Warren’s adversarial approach to crypto regulations. Most recently, Coinbase CEO Brian Armstrong said,

“Crypto holders in MA should realize Senator Warren is the one who got Gary Gensler his job and encouraged him to (unlawfully) try and kill the crypto industry in America.”

Moreover, the Coinbase co-founder asked Massachusetts residents to support John Deaton, emphasizing his stance as a pro-crypto advocate 

Predictions of Inflation-Driven Bitcoin Surge

Amidst these economic discussions, Arthur Hayes, co-founder of BitMEX, has made predictions regarding Bitcoin’s potential surge due to inflationary policies. Hayes argues that geopolitical tensions and the consequent monetary expansion by the US government could weaken the US dollar and enhance Bitcoin’s appeal as a “digital gold.”

Hayes suggests that increased military spending and monetary policies that expand the Federal Reserve’s balance sheet will lead to inflation ahead of US elections. This would make Bitcoin an attractive hedge against depreciating fiat currencies. He believes that this scenario will boost demand for Bitcoin as investors seek stability in alternative assets.

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Digital asset investment products witnessed a surge in inflows, reaching $2.2 billion last week, the largest since July 2024. This increase has been attributed to the possibility of a Republican win led by Donald Trump in the upcoming US election. 

The U.S. inflows reached $2.3 billion, while other regions experienced minor outflows, which may have been due to profit-taking activities outside the U.S.

Crypto Markets Rally on Donald Trump 60% Odds, Adds $2.2 Billion Inflows

Donald Trump currently leads with 62.1% odds against Harris’s 37.8% in the upcoming US election. This growing confidence in a Republican victory has driven optimism within the crypto market. Consequently, the market has seen a surge to $2.2 billion inflows. The recent rally marks the largest inflow since July, with traders expecting favorable regulatory conditions under a potential Trump administration. 

Investors are increasingly betting on the likelihood of more crypto-friendly policies, with Donald Trump perceived as supportive of digital assets. Most recent Polymarket data shows Donald Trump leading with 62.1%, a 2.1% increase, while Kamala Harris trails with 37.8%, dropping by 2.3%. 

In addition, Bitcoin investment products were the primary beneficiaries of these inflows, adding $2.1 billion to the total. The increase in demand is attributed to both rising optimism in Donald Trump’s election lead and BTC price appreciation. Similarly, Bitcoin funds saw significant activity, while short-Bitcoin products also gained $12 million in inflows, the largest since March. 

Ethereum-based products followed closely, adding $58 million in inflows, further underscoring the broader market enthusiasm linked to the US election.

Other altcoins like Solana and Litecoin also witnessed positive inflows, with $2.4 million and $1.7 million respectively. However, multi-asset products, which usually cater to more diversified investments, saw $5.3 million in outflows, ending a 17-week streak of inflows.

Polarized Regional Inflows and Outflows

While the U.S. market experienced significant inflows of $2.3 billion, the situation in other regions was markedly different. Countries such as Canada, Sweden, and Switzerland witnessed net outflows of $19.9 million, $18.2 million, and $14.9 million, respectively. These outflows are speculated to result from profit-taking activities following recent price appreciation.

In addition, billionaire Mark Cuban recently criticized Donald Trump’s campaign, suggesting that it has become more about Elon Musk than the former president himself. Cuban’s comments reflect the increasing role of Musk, a prominent Trump supporter, in shaping the Republican’s 2024 bid. 

Cuban also pointed out that the Polymarket odds may be unreliable. He claimed much of the betting activity on the platform comes from foreign investors rather than Americans. 

These criticisms of Elon Musk’s involvement in Donald Trump’s campaign come even as the Tesla CEO recently mentioned XRP at a Pennsylvania rally. When asked about XRP Ledger and its potential adoption by financial institutions, Musk stayed neutral while reaffirming his support for the broader crypto market.

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As of today, there are almost two weeks before the US elections in 2024, and the anticipation for that is clearly visible in the Trump Harris polls. Though the presidential candidates, Donald Trump, and Kamala Harris, are in a tough battle, the former is leading the race, especially with his pro-crypto stance and support from multi-billionaire Elon Musk. It gets more significant as Elon recently joined one of Trump’s rallies, wearing a Black MAGA hat. However, as there are still two weeks left, the table might turn as earlier Harris was leading the race.

Donald Trump Lead The Trump Harris Polls By 20%

The former US president, Donald Trump, had an early start with endorsing the voters for the upcoming elections. In the run for that, he has even accepted the crypto industry and made some heavy promises for its development and support in the future. As a result, many popular meme coins were also introduced by followers, with him as a reference. Interestingly, they also gained heavy popularity in the crypto market.

With this and many other factors, Donald Trump is officially leading the Trump Harris polls by 20%, as US Election odds Hit 60% in favor of Trump and only 40% are in Harris’s favor on Polymarket. More importantly, four users have paced bets worth $25M, flagging concerns for market manipulation.

However, in contrast to the poly market data, Kamala Harris is leading in the mainstream media polls. The TRON founder, Justin Sun, also highlighted this in one of his recent x posts, questioning what to believe. However, he also highlighted the real deal, where the money is at stake.

If you look at the mainstream media polls @FiveThirtyEight, they all say @KamalaHarris will be elected president. But if you look at where the real money is betting, on @Polymarket, @realDonaldTrump is already ahead by more than 20%. So, who is actually right? pic.twitter.com/6se58yRmz5

— H.E. Justin Sun(hiring) (@justinsuntron) October 19, 2024

Trump-Themed Memecoins Struggling Despite Polls Win

The overall crypto market is up today after significant Bitcoin buying and the hype around the Trump Harris polls. However, the Trump-themed memecoins did not exactly follow this rally. Instead, they are struggling on the charts, disappointing many crypto enthusiasts. At the time of reporting, Trump coins like MAGA (MAGA), MAGA (TRUMP), and many other similar tokens are facing significant drops.

After looking at the bigger picture, MAGA and TRUMP are in profit, as they are up by 116% and 102% on the monthly charts. Even a few hours ago, these tokens were performing decently before following a steep downtrend. This downtrend pushed the MAGA price down to $0.0001579 after a 7% decline in the last 24 hours. Additionally, its market capitalization and trading volume have also declined to $61.63M and $13.77M. It is quite disappointing, as just a few days ago the MAGA price jumped 17% within a day, raising investors’ expectations.

Moreover, in the case of the TRUMP token, the price has declined to $4.28 after an 18% drop, with a declined market cap of $188.26M. However, its trading volume is still up at $15.70M after a 128% surge, indicating the ongoing demand for the token. With this, these tokens may be in a temporary consolidation following their month-long rally. More importantly, there is strong buying pressure on these Trump-themed memcoins thanks to the hype around Trump Harris polls and upcoming elections. As a result, recovery might happen once these break resistance.

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In a recent interview with Tucker Carlson, Elon Musk voiced strong support for Donald Trump’s presidential campaign while sharing his concerns about the future of democracy in the United States. Musk suggested that if Trump loses the upcoming election, it could lead to severe consequences for democratic processes in the country. 

The Tesla CEO also expressed personal apprehension, stating that if Trump loses, his own future may be at risk, predicting possible jail time.

Elon Musk Claims U.S. Democracy Is at Risk if Trump Loses

During the interview with Tucker Carlson, Elon Musk discussed his concerns over U.S. democracy, suggesting that Donald Trump is pivotal to its future. Musk asserted that if Trump loses the upcoming election, it could spell the end of genuine democratic elections in the United States. 

More so, he criticized current political trends, particularly regarding immigration policies, which he claimed were manipulated to secure a permanent Democratic voter base. According to Musk, these shifts could fundamentally undermine the fairness of elections.

In addition to concerns about democracy, Musk predicted dire personal consequences if Trump fails to secure victory. He remarked that if Trump loses, he would be in trouble, hinting at possible legal repercussions or jail time. 

Another critical point Elon Musk raised during the interview was the Federal Communications Commission’s (FCC) decision to cancel a contract awarded to Starlink, his satellite internet venture. Musk suggested that the decision to revoke the contract was influenced by partisan politics rather than objective reasoning. 

He remarked that the cancellation came after a political decision, which he viewed as a direct attack on his business.

The contract was meant to provide Starlink services to disaster-stricken areas, such as those affected by Hurricane Helene. According to Musk, the FCC’s decision hindered these efforts, causing delays in providing aid. 

Following these major government criticisms, Elon Musk has stepped up his efforts to ensure a Donald Trump win. Most recently, he attended Trump’s rally in Butler, Pennsylvania, where he declared himself “Dark MAGA.” This appearance boosted Trump’s winning odds and led to a MAGA price surge alongside other Trump-related tokens

Impact of Trump’s Lead Over Harris on the Crypto Market

Donald Trump’s lead over Kamala Harris has sparked discussions on how the election results could influence the crypto industry. Polymarket data reveals that Trump currently holds a lead of 52.6%, compared to Harris’ 46.5%. This shift in momentum has significant implications for the crypto sector, particularly regarding regulatory changes that could follow a Trump victory.

If Donald Trump wins the presidency, it could result in the dismissal of the current controversial SEC Chairman Gary Gensler. Reports suggest that Trump would likely replace Gensler with Robinhood’s Chief Legal Officer, Dan Gallagher. Gallagher’s potential appointment is seen by many in the financial sector as a positive step toward more favorable crypto regulations. Elon Musk has expressed optimism about Trump’s policies, which could offer more regulatory clarity for crypto firms.

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Elon Musk, the CEO of Tesla and SpaceX, has launched an initiative aimed at boosting Donald Trump’s position in the upcoming US elections. Musk through a financial incentive program on his political action committee, America PAC, is offering offering $47 for each registered voter referred in a swing state and signs a petition.

This will promote voter registration and support for constitutional rights, including free speech and the right to bear arms.

Elon Musk Boosts Trump Campaign with $47 Voter Referral Program

Elon Musk has taken a proactive approach to influence the upcoming presidential election by advocating for Trump through his America PAC. In a move to increase voter engagement, Elon Musk has launched a voter engagement initiative, offering $47 to voters in swing states. These voters are however required to sign a petition supporting the First and Second Amendments.

Moreover, the program aims to boost participation and advocacy for constitutional rights. Similarly, the strategy will enhance Donald Trump’s appeal among undecided voters in key states.

More so, the initiative focuses on gathering support for gun rights and free speech, resonating with electorate who value these amendments. According to the report, America PAC aims to secure 1 million signatures from registered voters by October 21. This will emphasize the importance of active participation in the upcoming election.

Strategic Impact on Voter Mobilization and Crypto Markets

Elon Musk’s efforts are strategically poised to mobilize a demographic known for strongly supporting constitutional freedom. Musk’s financial incentive for voter registration and petition signatures is targeting swing states such as Pennsylvania, Georgia, and Arizona. This approach will sway voter turnout in Trump’s favor, where each signature could be crucial.

The $47 incentive is a call to action for supporters to shape the political landscape actively. This is just one of the many ways Musk has tried to push for a Donald Trump win. Most recently, coinpress reported that the Tesla CEO’s  America PAC spent over $67 million in advertising and supporting Donald Trump’s candidacy. 

In addition, Elon Musk’s influence on cryptos has become increasingly evident, with his statements and endorsements impacting market prices. On Sunday, Musk’s “Dark MAGA” declaration at the Donald Trump rally heightened his political stance and played a significant role in the surging prices of MAGA and other Trump-related cryptocurrencies. 

This effect underscores the power of high-profile endorsements in the crypto markets, where investor sentiment can randomly shift. At the same time, Elon Musk’s appearance at the rally in Butler, Pennsylvania, could catalyze a shift in the crypto market this October. Known for his substantial influence on both social and financial landscapes, Musk’s endorsement and public engagements have historically led to increased market volatility. 

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Elon Musk has confirmed his attendance at a political rally hosted by former U.S. President Donald Trump in Butler, Pennsylvania, the site of a previous assassination attempt on Trump. This high-profile appearance by Musk alongside Trump will draw significant attention, potentially impacting the crypto market as October begins. 

This month has been historically positive for Bitcoin and other cryptocurrencies, often referred to as ‘Uptober’ due to its consistent performance uplift. With the growing social media presence and influence, Elon Musk and Trump rally could spur crypto market volatility.

Elon Musk at Trump Rally: Catalyst for October Crypto Boom?

In response to Donald Trump’s tweet announcing his return to Butler, Pennsylvania, Elon Musk declared his intentions to attend, stating, “I will be there to support!” This commitment from the Tesla and X CEO, a figure deeply influential on social media, raises speculation about potential impacts on financial markets, especially cryptos. 

October has historically been a strong month for Bitcoin, and Musk’s presence at such a politically charged event could attract heightened attention to crypto investments.

Additionally, the backdrop of Butler, a town where  Trump survived an assassination attempt in July, adds to the potential for this rally to sway public sentiment. Investors often react to socio-political developments, and the participation of high-profile figures like Elon Musk will magnify these effects.

The Role of Social Media and ‘Prophets’ in Crypto

In addition, CryptoQuant CEO Ki Young Ju recently emphasized the increasingly religious role of social media in shaping financial markets. He pointed out that figures like Elon Musk and Satoshi Nakamoto are seen as “prophets” and could drive asset prices through their online followings and perceived visionary insights. 

Since the invention of the internet, social media’s involvement in financial markets has increasingly taken on a religious tone. Elon Musk’s #Tesla, Satoshi’s #Bitcoin, and various crypto communities are prime examples.

The role of religious “prophets” is crucial in driving…

— Ki Young Ju (@ki_young_ju) October 5, 2024

Ki Young Ju further shared that investors must learn the influence of social media when making decisions. According to these insights, the upcoming Trump rally is a potential catalyst for October’s crypto market movements. With Musk’s active involvement in crypto through various ventures and tweets, his endorsement or statements at the rally could lead to immediate reactions in investor behaviors.

Meanwhile, another influential figure, Robert Kiyosaki, has publicly criticized the Biden administration for what he perceives as ineffective leadership during the Israel-Iran conflict. The author praised Donald Trump’s approach, attributing stronger leadership qualities to the Republican figure amid rising global tensions.

Moreover, as social media influence increase, figures like Elon Musk and Donald Trump become more prominent. Therefore, this upcoming rally might propel BTC price to new heights this October. Their significant presence and commentary can influence market movements and accelerate Bitcoin to surpass its previous all-time highs this ‘Uptober’.

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Zac Townsend, CEO and co-founder of Meanwhile, has expressed concerns about Kamala Harris’s proposed 25% unrealized capital gains tax. Townsend, a vocal critic of the plan, warns that the tax could lead to a significant sell-off in crypto markets and harm investors across the board.

Kamala Harris’s 25% Unrealized Gains Tax Proposal

Last month, Vice President Kamala Harris endorsed a bold new fiscal policy that could transform how unrealized capital gains are taxed in the United States. This proposal is part of a broader economic strategy under the current administration. It suggests a 25% tax rate on the appreciated value of unsold assets, including cryptocurrencies. 

Critics argue that this move deviates sharply from traditional tax norms, which have typically taxed profits only upon the realization of gains through sales.

The tax specifically targets the assets of Americans whose net worth exceeds $100 million. While it aims to address inequalities within the current tax system, the policy has stirred unrest among investors. 

According to Townsend, the implementation of such a tax will compel large-scale asset holders to liquidate portions of their portfolios. This could flood the market with digital currencies, potentially driving down prices and diminishing the value of investments.

For instance, high-profile Bitcoin investors such as the Winklevoss twins, who bought their BTC at just $10, could face a crypto tax bill reaching $1 billion under the new policy. Similarly, Tim Draper, an early investor in Bitcoin with purchases at around $632 per coin, could be hit with a $423 million crypto tax demand. This illustrate the impact of such a tax as these large sell-offs could depress cryptocurrency prices universally.

Additionally, Townsend’s critique extends beyond the immediate financial burdens on wealthy investors. He argues that the tax would alter fundamental investment strategies within the cryptocurrency space. Typically, cryptos are favored for long-term holding due to their potential for high returns over time. 

However, with the looming threat of a crypto tax on unrealized gains, the incentive for “holding on” diminishes. This would lead to increased market volatility and a departure from long-term investment strategies.

Political Developments and Market Speculation

In political arenas, Kamala Harris’s tax proposal coincides with fluctuating perceptions of her leadership as she is currently tied in the polls with Donald Trump. The political uncertainty adds another layer of concern for investors as regulatory changes will impact their holdings.

Moreover, Kamala Harris has been urged to host a crypto policy roundtable in October. This event could provide a platform for discussions on the future regulatory landscape for cryptos. Crypto leaders and stakeholders hope that this dialogue will lead to more balanced and inclusive policies.

As the 2024 US elections approach, the crypto industry continues to be a major battleground for both Kamala and Trump. However ,the crypto community has shown more support for the Republican Party candidate. Most recently, analyst Eric Balchunas said that Donald Trump’s victory could influence the fate of XRP and Solana ETFs. 

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Elon Musk, CEO of Tesla, has publicly criticized Vice President Kamala Harris’s approach to border issues, labeling her recent comments as deceptive. This critique comes at a pivotal time as Harris tours the southern border, asserting a tough stance on immigration policies ahead of the upcoming election.

Musk’s criticisms echo sentiments from the Border Patrol Union and add complexity to Harris’s campaign messages about strengthening border security.

Elon Musk Accuses Vice President Harris of Deception on Border Security

In a recent tweet, Elon Musk echoed criticism from the Border Patrol Union regarding Vice President Kamala Harris’s handling of border issues. The Union had expressed concerns about Harris’s limited engagement, noting her brief visits and repeated statements without substantial action over the past three and a half years. 

Musk suggested that the Vice President has not shown a genuine commitment to addressing the complexities of border control and immigration.

In addition, Elon Musk also commented on stats posted by the Rabbit Hole showing an increased number of immigrants during the Harris and Joe Biden regime. Kamala Harris claimed,

“Strengthening our border is not new to me and it is a longstanding priority of mine. I have done that work.” 

The Tesla CEO was highly skeptical of these claims and called them a huge lie. He expressed his disappointment, saying,

“The scale of the deception is jawdropping.”

Harris’s Border Visit Amidst Criticism

During her visit to the US-Mexico border, Kamala Harris aimed to project a reinforced image of control and responsibility. She highlighted the measures taken under the current administration to address issues at the border. Kamala emphasized a supposed balance between securing the border and maintaining a humane immigration policy. 

Despite her assurances, critiques from figures like Elon Musk and others highlight a perception of inadequacy in her approach to immigration issues.

Adding to the concerns, Robert Kiyosaki issued harsh criticism of Kamala Harris’s border policies. He drew controversial parallels with Monica Lewinsky in what he described as a tactic to ascend politically. 

Kiyosaki’s remarks, which he shared on social platforms, liken Harris’s strategies to “the Lewinsky action plan for success.” He insinuated that her political maneuvers around border issues are more about personal advancement than genuine policy efficacy. 

Kamala Harris visits southern border and says: “If elected she will send 1500 new border guards to protect the border.”

Funny I thought she was already elected and already the border czar.

What has she been doing for 4-years?

This is what happens when a person makes it to the…

— Robert Kiyosaki (@theRealKiyosaki) September 28, 2024

As the election approaches, the dialogue around border policies remains fraught with polarized opinions. 

Additionally, the upcoming US elections have seen Harris commit to US dominance in blockchain, AI, and quantum tech. This aims to appeal to younger, tech-savvy voters and the broader crypto community, which has shown more support for Trump.

Moreover, the Coinbase-backed ‘Stand With Crypto’ PAC has revealed financial and public support for pro-XRP lawyer John Deaton. This backing boosts his campaign against anti-crypto Senator Elizabeth Warren and reinforces his pro-crypto stance ahead of the coming elections.

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