Kamala Harris’ presidential bid has gained momentum for the crypto industry

United States Vice President Kamala Harris is making significant strides in the cryptocurrency industry as her presidential bid grows.

Her latest efforts are focused on mending her strained relationship with the cryptocurrency sector.

Harris has advanced into the crypto industry

The Harris campaign is actively working to rebuild its relationship with the crypto industry. Interest in Harris among industry players is growing despite industry support leaning heavily toward former President Donald Trump, who recently spoke at the Bitcoin 2024 conference in Nashville and criticized current SEC Chairman Gary Gensler's stance on crypto.

This follows an endorsement from Uphold co-founder JP Theriot, who recently endorsed Harris at X (formerly Twitter). Theriot, the first crypto executive to endorse a Democratic candidate, criticized Trump's promises as meaningless and praised Harris for her ability to understand emerging technologies.

He emphasized that the Harris campaign must show a real commitment to renewing its relationship with the crypto industry. He pointed out that following a common sense would garner a lot of support. However, Theriot said the endorsement is personal and does not reflect Uphold's position.

“In a 50/50 game, regardless of who it is, the next press will have priority at the table when policies are being formulated. To unleash the power of digital asset creation, we need to clear up misconceptions and reverse policies, Theriot said.

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Additionally, California Congressman Ro Cana is set to host a critical meeting to facilitate Harris' efforts to improve crypto ties. According to Fox Business's Eleanor Terrett, the meeting will include key crypto industry figures and members of the Harris campaign.

In addition, reports indicate that the Harris campaign has appointed David Plouffe, a former advisor to crypto firm Alchemy Pay and a member of the Binance Global Advisory Board, as a senior advisor. Plouffe, who previously worked on President Obama's team, is known for advocating for regulatory transparency in the crypto space.

In addition, her campaign reported raising $310 million in July — more than double the fundraising of her Republican rivals — and currently has $377 million in cash reserves.

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These developments appear to strengthen Harris' White House bid. According to data from blockchain-based forecaster Polymarket, her odds are now 45 percent higher than Joe Biden's.