Marathon Digital Weighs Overseas Expansion If Biden Wins U.S. Election

IconCryptoNewsTerminal Staff15 Aug, 2024

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Marathon Digital Weighs Overseas Expansion If Biden Wins U.S. Election

Marathon Digital Holdings CEO Fred Thiel has stated that the company may relocate its operations overseas depending on the results of the November 2020 U.S. presidential election. Thiel cited concerns over the Democratic party's stance on cryptocurrency, specifically Vice President Kamala Harris's lack of engagement with the industry. According to Thiel, Marathon Digital has engaged with both parties ahead of the election, but only the Republican side has responded positively. He highlighted former President Donald Trump and Robert F. Kennedy Jr.'s early outreach to the crypto industry. The crypto industry's apprehension stems from fears that a Harris presidency could lead to unfavorable policies for Bitcoin. Thiel emphasized that Marathon Digital has repeatedly attempted to educate Harris on Bitcoin but has not received a response. Should Biden win the election, Marathon Digital may move its operations overseas to avoid potential regulatory challenges in the United States.

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