Digital Asset Holders Influential in Swing States
- Crypto voters evenly split between Harris and Trump according to a new poll by Morning Consult
- Crypto owners concentrated in swing states
- Only 18 million Americans owned or used crypto in 2023, down from 28 million in 2021 as per Federal Reserve survey
- Digital-asset lawyer Stephen Palley doubts the existence of a ‘crypto vote’
- Both campaigns are keen to avoid upsetting the crypto interest group
Contrary to popular belief, a new poll by Morning Consult commissioned by Coinbase reveals that crypto owners are evenly divided between Democratic nominee Kamala Harris and former President Donald Trump. The poll also highlights that these voters are concentrated in swing states, which could be crucial for either candidate’s victory. However, a recent Federal Reserve survey indicates that only 18 million Americans owned or used cryptocurrency in 2023, down from 28 million in 2021. Despite both campaigns acknowledging the importance of the crypto vote, digital-asset lawyer Stephen Palley questions its significance.
Factuality Level: 8
Factuality Justification: The article provides accurate information from a reputable source (Coinbase’s poll) and presents it in an objective manner without any personal perspective or sensationalism. It also includes relevant details about the political implications of the crypto vote in swing states and quotes from experts in the field.
Noise Level: 2
Noise Justification: The article provides relevant information about the political affiliations of crypto owners based on a poll conducted by Coinbase and its potential impact on the election. It also includes quotes from experts in the field to provide different perspectives on the topic.
Public Companies: Coinbase (COIN)
Key People: Kamala Harris (Vice President), Donald Trump (former President and current Republican presidential nominee), Stephen Palley (digital-asset lawyer)
Financial Relevance: Yes
Financial Markets Impacted: The article discusses the political affiliations of crypto owners and their potential impact on the US presidential election, which could influence policies affecting cryptocurrencies and related technologies.
Financial Rating Justification: The article connects the political preferences of crypto owners to their possible influence on future policies regarding cryptocurrencies and blockchain technology, both of which have financial implications.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the text.
Move Size: No market move size mentioned.
Sector: Technology
Direction: Neutral
Magnitude: Small
Affected Instruments: Stocks
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