The U.S. cryptocurrency industry is debating which side to support in the upcoming election. While it has friendly ties with the Republican Party, it is hesitant to “put all its eggs in one basket.”
In the U.S., many industries clearly back one of the two main political parties. For instance, sectors like agriculture, trucking, construction, mining, oil and gas, and auto manufacturing predominantly lean toward the Republicans. On the other hand, industries such as higher education, fashion, entertainment, television, and grocery retail typically favor the Democrats, according to surveys by YouGov.
Meanwhile, the cryptocurrency industry remains undecided. Behind the scenes, divisions are emerging between the left and right on whether to support a particular presidential candidate or which party should control Congress next year.
“The number of Republicans, Democrats, and independent voters in the industry is about equal,” said an anonymous lobbyist. “This is a unique characteristic of the industry, and it’s creating internal conflict.”
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