US Elections and Crypto Assets: 2024 Meme Token Speculation Theme?

With the progress of the U.S. election process, a series of election-related meme Tokens have emerged. Among them, a Token themed around a certain candidate once reached a market value of 775 million USD, attracting widespread attention in the market. The differing attitudes of various candidates toward Crypto Assets directly affect the price trends of the related Tokens.

Candidate's Crypto Assets Position

Republican candidate

The Republican candidate has recently changed his stance on Crypto Assets, making a series of supportive statements about encryption. He promised to protect the self-custody rights of 50 million Crypto Assets holders across the country and expressed a commitment to ensuring the future of the Crypto industry and Bitcoin in the United States. Additionally, he has launched NFT projects on several blockchain platforms. In May of this year, his campaign team officially announced that they would accept Crypto Assets as campaign donations, further solidifying their pro-crypto position.

Democratic Party candidate

In contrast, the Democratic candidate takes a more cautious stance on Crypto Assets. He vetoed a proposal aimed at overturning SEC SAB 121, which requires companies that custody Crypto Assets to record the customer-held Crypto Assets as liabilities. He stated that overturning this regulation would weaken the SEC's authority in accounting matters and emphasized that he would not support any measures that could harm consumer interests.

Changes in the SEC's Regulatory Attitude

The SEC's regulatory attitude towards Crypto Assets has varied under different government administrations. From 2016 to 2020, the SEC mainly acted against fraudulent ICO activities and certain crypto trading platforms. Since April 2021, the SEC's regulatory efforts in the crypto industry have significantly intensified, with a notable increase in the number of lawsuits involving several well-known exchanges.

Election Process and Key Events

Key dates in the general election include the Republican National Convention in July, the Democratic National Convention in August, and the candidate debates in September. The final voting day is set for November 5.

Some important legal cases may have an impact on the election situation. Although the outcomes of certain cases may not directly affect the candidates' eligibility to run, they could influence the voting intentions of some voters. Surveys show that if a certain candidate is convicted, about 16% of supporters may reconsider their voting choices.

The Role of Crypto Assets in Elections

According to multiple polls, Crypto Assets play an important role in this election:

• About 19% of registered voters in the United States hold Crypto Assets.
• In some key swing states, 26% of respondents expressed concern about the candidates' Crypto Assets stance.
• 21% of respondents believe that Crypto Assets are an important issue in elections.
• 55% of people are concerned that excessive regulation may hinder innovation.

However, economic growth and inflation issues remain the most important topics for most voters, especially in some swing states where economic growth lags behind the national average.

Meme Tokens Related to the Election Theme

As the election situation develops, the prices of some meme tokens related to candidates fluctuate dramatically. However, these tokens involve higher risks, including but not limited to:

• The candidate's crypto attitude may suddenly change.
• The campaign slogan may be adjusted
• The probability of being listed on mainstream exchanges is relatively low.

Investors should exercise caution and fully assess risks. The content of this article is for reference only and does not constitute investment advice.