The crypto industry had hoped that issues of regulation or related concerns would be addressed, but the prolonged debate centered on other topics.
The 90-minute debate between current President Joe Biden and former President Donald Trump began with economic issues but also touched on topics such as abortion, immigration, and foreign policy. The economic section was brief, and the debate barely touched on technology policy, let alone the digital asset industry.
It’s worth noting that cryptocurrency has been a topic of discussion among candidates and lawmakers during this election cycle but only came to the forefront after Trump discussed cryptocurrency issues during his campaign. He promised to ease the sentence of Ross Ulbricht of Silk Road. On the other hand, Biden’s campaign has made no public statements regarding cryptocurrency.
During the debate, Biden spoke hoarsely and was quiet throughout the evening due to a cold. Trump was louder and clearer, although fact-checkers subjected his statements to greater scrutiny.
Meanwhile, the crypto industry is pinning its hopes on Congress and the administration to pass business-friendly digital asset legislation. To this end, industry participants hope to replicate the significant election spending from 2022, when companies like Coinbase, Ripple, and Andreessen Horowitz donated around $50 million to support candidates.
The market estimates a 68% chance of Trump winning the election.