The upcoming presidential debate between U.S. President Joe Biden and former President Donald Trump, scheduled for June 27 at CNN’s Atlanta studios, may mark a historic moment as digital assets could find themselves discussed on the debate stage for the first time ever.
Despite neither Biden nor Trump having officially secured their party nominations by the debate date, polls strongly indicate they are likely contenders for the 2024 election. This debate departure from the traditional Commission on Presidential Debates arrangements underscores the candidates’ autonomy in setting terms for this crucial exchange.
Expectations are high among cryptocurrency enthusiasts, who anticipate mentions of digital assets during the debate. Moderators Jake Tapper and Dana Bash might introduce the topic, or either candidate could raise it spontaneously. Rules ensure that microphones will mute except during allocated speaking times.
Trump, after emerging victorious among Republican contenders with a pro-crypto platform, announced his campaign’s readiness to accept contributions in digital assets. He also proposed the idea of increasing domestic Bitcoin mining, signaling a shift from his previous stance as expressed in the 2020 debates with Biden.
During his presidency, Trump had previously criticized Bitcoin and cryptocurrencies as unstable and lacking intrinsic value. His recent pivot towards embracing crypto has sparked speculation about its strategic political implications rather than genuine endorsement.
Diogo Mónica, co-founder of Anchorage Digital, expressed excitement about the potential for crypto to feature prominently in the debate, highlighting its growing significance.
President Biden, since taking office, has taken a regulatory approach towards crypto, appointing Gary Gensler to lead the SEC and implementing measures aimed at curbing its impact. Despite his reservations, there are indications he might explore accepting crypto contributions for his reelection campaign, contrasting sharply with Trump’s fluctuating stance on issues like NFTs and mining.
The election’s outcome could be influenced by the significant millennial, Gen Z, and young professional voter bloc engaged with crypto, as highlighted by Moe Vela, a former adviser to Vice President Biden.
Meanwhile, Crypto advocacy groups such as Stand With Crypto are lobbying CNN to include digital assets in the debate topics, underlining the community’s growing political influence.
With Election Day set for November 5, Trump faces legal challenges, including a July 11 sentencing hearing following a New York conviction on multiple felony counts, which may impact his candidacy at the Republican National Convention.
The Biden-Trump debate, devoid of a live audience, is anticipated to be a critical moment in the lead-up to the 2024 election, with its discussion of emerging economic and financial issues poised to resonate widely.