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Memecoin Kamala Horris (KAMA) saw its first significant increase in over a month, rising 7% in the last 24 hours, in response to comments made by the US Vice President. Kamala Harriswho promised to support the growth of the crypto space if elected.
Harris Promises Support for Crypto and AI
Speaking to donors at a fundraising event in New York City on Sunday, Harris outlined his economic agenda, which aims to spur innovation in the field of artificial intelligence (AI) and digital assets while ensuring consumer protection, according to Bloomberg. At an event at Cipriani Wall Street, Harris said:
I will bring together employees, small business founders and founders, and large companies. We will work together to invest in America’s competitive future. We will promote new technologies such as AI and digital goods, while protecting our consumers and investors.
Interestingly, this is Harris’s first public comment about crypto as a Democratic presidential candidate, raising expectations from investors and enthusiasts about him. positioning of digital assets compared to the administration of President Joe Biden.
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The cryptocurrency sector is becoming increasingly influential in the 2024 presidential electionespecially as industry executives and investors express frustration over what they see as onerous regulations under Biden.
Harris’s campaign showed a desire to support the growth of digital assets while also promoting the necessary protection, especially due to the recent “high-profile failure” in the crypto market.
In contrast, former President Donald Trump, Harris’s Republican opponent, has taken a strong interest in the crypto industry, promising replacing SEC Chairman Gary Gensler and creating a stablecoin framework.
Harris Takes Out Trump in August Fundraiser
According to the report, Harris’ fundraising was an important event aimed at strengthening his “financial advantage” in the race against former president Trump. Tickets for the event ranged from $500 to nearly $1 million, allowing high-profile donors exclusive access to meet Harris and attend additional events.
Harris’ campaign reported impressive fundraising numbers, raising $361 million in August alone, contributing to $404 million in campaign funds as of early September.
This financial support exceeds the $130 million raised Trump and the Republican National Committee at the same time, giving Harris and the Democrats a huge cash advantage of $109 million.
KAMA Rises Amid Growing Hopes of Harris’ Presidential Bid
Kamala Harris’ recent statements boosted her fundraising numbers and led to the rise of memecoin KAMA, which saw its first increase in over a month. Currently trading at $0.0052, KAMA recorded a 7.2% gain, recovering from $0.0500 earlier this month amid the broader market. refuse.
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Despite this recent high, KAMA remains down about 87% from its all-time high of $0.039, reached on July 24, according to CoinGecko data.
It remains to be seen whether other announcements and statements of support because the digital asset industry could lead to more gains for the token in the coming days, less than two months until the presidential election.
Featured image from DALL-E, chart from TradingView.com