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Knife-edge Biden-Trump Showdown Has Crypto Backers on Both Sides

Knife-edge Biden-Trump Showdown Has Crypto Backers on Both Sides

Supply: Adobe/Stefano Garau

As American voters face a nervous wait to see if Democratic candidate Joe Biden can edge out President Donald Trump within the current United States election, it seems that some massive crypto group gamers could also be watching the vote counts with extra trepidation than others – with Bakkt‘s dad or mum and FTX standing on the other sides of the political fence.

Information compiled by Opensecrets, a analysis group that claims its mission is to “monitor cash in United States politics,” reveals that Sam Bankman-Fried, the top of crypto derivatives trade FTX, stumped up USD 5.2m to fund Biden’s marketing campaign for the presidency, regardless of being a “relative newcomer to political spending,” within the phrases of the Wall Avenue Journal.

FTX is headquartered in Hong Kong, however some Redditors opined that FTX’s assist for Biden might end in a profitable reward additional down the road, with one quipping,

“I assume that is one option to safe a bitcoin ETF…”

However it seems that the crypto world’s political allegiances are divided. One of many largest backers of President Donald Trump’s reelection marketing campaign, additionally per Opensecrets knowledge, was Intercontinental Alternate (ICE), the operator of the New York Inventory Alternate and Bakkt, a bitcoin (BTC) derivatives platform.

ICE stumped up a cool USD 1m to assist fund the incumbent president’s marketing campaign.

Knife-edge Biden-Trump Showdown Has Crypto Backers on Both Sides 102
Supply: Twitter/@BakktBot

Self-styled crypto candidate Brock Pierce and the bitcoin-keen rapper Kanye West had been additionally standing for election, however seem to have garnered however a tiny fraction of the vote up to now.

However irrespective of who’s ultimately declared the winner of the presidential vote, it seems that the crypto group will at the least have a voice within the Senate, with Republican candidate and bitcoin fanatic Cynthia Lummis profitable a seat yesterday.

For now (09:38 UTC), Biden secured 264 electoral votes out of essential 270, whereas Trump has 214, with 5 states uncalled, in response to Bloomberg knowledge. Whereas Reuters and another sources declare that Biden has 243 votes, Trump – 214.

Based on predictions markets on FTX, there’s a 15% probability that Trump will win the race, in contrast with 86% within the case of Biden.

At pixel time, BTC trades at USD 14,491 and is up by 6% in a day and 10% in per week.


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