The previous week has seen significant activity in the cryptocurrency sphere, encompassing a spectrum of developments from the Winklevoss twins’ disapproval of Vice President Kamala Harris for her nonattendance at a crypto roundtable to the disconcerting deceleration of Shiba Inu’s burn rate. In addition, political influences have come into play, with Anthony Scaramucci advocating for a bipartisan approach to crypto regulation and Mark Cuban obtaining assurance from Chuck Schumer (D-NY) regarding the necessity for judicious crypto laws.

Criticism of Kamala Harris by the Winklevoss Twins

The founders of Gemini, Cameron and Tyler Winklevoss, conveyed their disappointment at Harris’ persistent absence from cryptocurrency roundtables. Cameron Winklevoss utilized social media to express his apprehension, stating, “Harris is a no-show again for the latest crypto roundtable. But don’t worry, she’s really into crypto. She gets it. Progress is being made. We just can’t point to anything at this time.” His sentiments were corroborated by his brother, Tyler.

Stagnation of Shiba Inu’s Burn Rate

Shiba Inu (SHIB/USD) encountered a 45% decline in its burn rate over a two-day period, prompting inquiries among traders regarding the coin’s potential for immediate growth. On a more optimistic note, the Shib community introduced ShibHub, an application that serves as the cornerstone of the Shiba ecosystem, offering users engagement in DeFi, NFTs, social networking, and Web3 gaming.

Advocacy for Bipartisan Crypto Regulation

During a virtual town hall meeting organized by the “Crypto for Harris” advocacy group, CEO of SkyBridge Capital, Anthony Scaramucci, underscored the significance of constructive and bipartisan regulation for digital assets. He emphasized that industry leaders aim to steer clear of political confrontations and maintain a position of neutrality.

Assurance from Chuck Schumer to Mark Cuban

Senate Majority Leader Schumer reassured billionaire entrepreneur Mark Cuban of the necessity for “sensible and long-lasting” regulation within the crypto industry during another virtual town hall interaction. Schumer acknowledged the increasing popularity of cryptocurrencies, noting that approximately 20% of Americans are using them, with that number projected to rise.

Impact of Trump vs. Harris on Crypto

As the U.S. presidential election looms, market sentiment suggests that a victory for Donald Trump could have a positive impact on crypto assets, while a win for Kamala Harris could have a negative effect. A report from Bernstein has highlighted the emergence of Polymarket, a crypto-based prediction market, as a key indicator of election trends.

The past week has been eventful in the cryptocurrency space, encompassing diverse developments and intriguing insights. As the industry continues to evolve, it is crucial to stay informed and be prepared for the shifts and changes that lie ahead.

Image via Shutterstock.

The aforementioned story was curated utilizing Benzinga Neuro and edited by Anan Ashraf.

© 2024 Benzinga.com. Please note, Benzinga does not provide investment advice, and all rights are reserved.

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