Lobby Democrats, Not Trump: BitMEX Co-founder's Plea to the Crypto Industry

IconCryptoNewsTerminal Staff12 Jul, 2024

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Lobby Democrats, Not Trump: BitMEX Co-founder's Plea to the Crypto Industry

The crypto industry should stop supporting former US President Donald Trump and instead lobby Democrats to pass pro-crypto legislation. This is according to BitMEX co-founder Arthur Hayes, who recently wrote a Medium post expressing his disappointment with the industry's support for Trump. Hayes argues that Trump's pro-crypto stance is not genuine and that he will abandon the industry once he is in office. He also criticizes crypto "whales" for blindly donating to Trump's campaign. Hayes believes that the industry would be better served by lobbying Democrats, who are more likely to support pro-crypto legislation. He urges the industry to promise Democrats its votes in return for their support. The crypto industry has made a mistake by backing Trump. His recent pro-crypto stance is not genuine, and he will say anything to get elected. Once in office, all thoughts of crypto regulation will disappear down the memory hole. I am disappointed to see crypto "whales" blindly donating to Trump's campaign. The industry should instead lobby Democrats to pass pro-crypto legislation - right now - and promise them our votes in return.

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