Mick Mulvaney, who served as acting White House Chief of Staff under Donald Trump, called crypto an industry that “breaks the mold” of United States politics because it appealed to Democrats and Republicans.
In an Oct. 23 interview on NewsNation — where he works as a contributor — Mulvaney said crypto “doesn’t fit neatly into the old Republican, Democrat sort of silos,” crossing the political aisle. The former Trump chief of staff implied that it was “part of the process” for lawmakers to “realign” their interests to come to terms with new industries.
“It is a new industry, it’s starting to mature a little bit — not much,” said Mulvaney on crypto companies. “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.”
Both Trump and Democratic Vice President Kamala Harris have made statements suggesting they will support the crypto industry if elected US President in November. As of October, many polls showed the two candidates neck and neck in crucial battleground states, which could result in an Electoral College victory.
From the White House to election pundit
Mulvaney left his position as White House chief of staff before the 2020 election, which Trump lost to then-Democratic candidate Joe Biden. He moved to become the US special envoy for Northern Ireland until January 2021, claiming to have resigned the day Trump’s supporters stormed the US Capitol.
Related: Trump made many promises to Bitcoiners — Can he keep them?
According to Mulvaley, the impact of crypto “will be fascinating to see” in the 2024 election cycle and the “next couple” election cycles as interest groups pour money into congressional candidates.
Political action committees (PACs) like Fairshake, Defend American Jobs, Protect Progress, and the Commonwealth Unity Fund have spent millions of dollars on media buys supporting candidates favoring crypto policies, while industry leaders have personally donated to campaigns.
With the US Election just 13 days away, PACs and executives are making their final pleas for voters to choose pro-crypto candidates.
The Bitcoin Voter PAC has released ads supporting Trump, Texas Senator Ted Cruz, and US Senate candidate Dave McCormick. Ripple CEO Brad Garlinghouse pushed for Massachusetts residents to vote for lawyer John Deaton in an attempt to oust incumbent Senator Elizabeth Warren.
Magazine: Crypto voters are already disrupting the 2024 election — and it’s set to continue