Coinbase Ripple and a16z to Attend National Conventions of Republican and Democratic Parties

Coinbase Ripple and a16z to Attend National Conventions of Republican and Democratic Parties

Coinbase Ripple and a16z to Attend National Conventions of Republican and Democratic Parties

According to the foreign media Politico, cryptocurrency exchange Coinbase, blockchain development company Ripple, and venture capital firm Andreessen Horowitz (a16z) plan to send representatives to attend the Republican National Convention (RNC), followed by the Democratic National Convention (DNC).

These companies will first “present their positions to the power brokers of the Republican Party” to support election results that are favorable to the industry’s policies, highlighting the widespread support of the Republican Party for the cryptocurrency industry.

Politico quoted Republican Congressman Dusty Johnson as emphasizing the growing importance of cryptocurrencies, calling it an “issue of increasing interest” to many people.

Participating in the RNC and DNC represents the ongoing commitment of these companies to the cryptocurrency policies of both parties. All three companies are members of the super PAC Fairshake, which raised $177.9 million and spent $70.9 million during the 2024 election cycle. The goal of this super PAC is to benefit US candidates who support cryptocurrencies, regardless of their party affiliation.

It is currently unclear whether these company representatives have already arrived at the RNC, which will end on July 18. The DNC is scheduled to take place from August 19 to August 24.

Differences between the two parties on cryptocurrency issues

The Republican National Committee’s Platform Committee approved and released the 2024 platform document last week, titled “Make America Great Again.” This platform pledges to end the “illegal and un-American repression” of the American cryptocurrency industry. In addition to opposing the creation of a central bank digital currency (CBDC), the platform draft also includes a commitment to “defend the right to mine Bitcoin” and allow cryptocurrency holders to self-custody their tokens.

This policy direction aligns with the recent position expressed by US presidential candidate Donald Trump on cryptocurrencies. Despite being shot last weekend, Trump still plans to participate in the “Bitcoin 2024” conference, which will be held from July 25 to 27, and deliver a speech.

The Republican Party confirmed Trump as its presidential candidate after a vote on July 15. In addition, Trump announced his running mate for this term as Ohio Senator J.D. Vance. Vance has expressed support for cryptocurrencies multiple times in the past and even publicly stated that he holds $250,000 worth of Bitcoin in 2022.

On July 13, the Democratic National Committee released its platform draft, which did not mention cryptocurrencies. Although current US President Joe Biden issued an executive order in 2022 aimed at ensuring responsible innovation in digital assets, authorities and Democrats have still faced criticism for their strict treatment of the industry.