Mark Cuban, a billionaire investor and popular television personality, said after Kamala Harris’ 2024 electoral defeat that young male cryptocurrency voters turned against her due to Gary Gensler’s policies.
Cuban Stressed On Crypto Cohort Of Young Men
In a podcast with Jon Stewart dated Dec. 13, 2024, the “Shark Tank” star was asked about his influence on Harris’ campaign during the presidential elections.
Cuban, who backed Harris’ candidacy and joined the “Crypto for Harris” campaign, said he “explained” to her team the importance of reaching out to the growing cryptocurrency demographic.
He cited Pew Research data — which said atleast 40% of young men are invested in cryptocurrency — to back his argument.
Did Gensler Cost Harris The Election?
Cuban said he warned the team that the then-SEC Chair Gensler’s actions “to devalue cryptocurrencies” would not sit well with these voters.
Notably, Cuban was critical of Gensler’s policies during the Biden administration, even though he supported Harris.
“I said it to her team that Gary Gensler could cost her the election. And there’s an argument to be made when you look at the numbers,” Cuban said. “A whole lot of young men voted against Kamala Harris. And I think crypto had a lot to do with it.”
According to data from the Center for Information & Research on Civic Learning and Engagement at Tufts University, 56% of young men aged 18-29 voted for Trump, while 42% voted for Harris. Overall, young voters favored Harris over Trump by 4 points: 51% to 47%.
Notably, Harris hinted in October of last year that her 2024 presidential election loss might not be the end of her political career.
Crypto Market In Trump Era
Trump took a 360-degree pivot from its earlier stance in the 2024 campaign, vowing to make the U.S. the “crypto capital of the planet.”
He reiterates the vision to this day and fulfilled his promise by creating a Strategic Bitcoin (CRYPTO: BTC) Reserve after assuming office. However, his administration hasn’t made any “budget-neutral” BTC purchases as announced previously.
Moreover, his family’s cryptocurrency ventures, including World Liberty Financial (CRYPTO: WLFI), Official Trump (CRYPTO: TRUMP) and MELANIA (CRYPTO: MELANIA) meme coins, have sparked accusations of conflict of interest and derailed the passage of key cryptocurrency-related legislation.
The total cryptocurrency market capitalization has fallen 14% since Trump took office last year.
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Photo Courtesy: Below the Sky on Shutterstock.com
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