Upbit’s Former CEO, JP Thieriot, has thrown his support behind Kamala Harris for President, sparking a heated debate within the crypto community.
A Controversial Endorsement
Thieriot, who previously led Upbit through the SEC lawsuit against Ripple, announced his support for Harris on X (formerly Twitter). He likened his decision to his earlier choice to keep XRP listed on Upbit, arguing that both decisions were bold and ultimately beneficial.
Thieriot believes that Harris is more receptive to the crypto industry than her opponents, and that engaging with her administration is crucial for the future of crypto. He believes that the crypto community can influence Harris’s policies on digital assets.
Pro-XRP Lawyer Slams Endorsement
However, Bill Morgan, a prominent lawyer in the XRP community, strongly criticized Thieriot’s endorsement. Morgan argued that endorsing Harris without concrete commitments on crypto policy is premature and risky, especially given the current regulatory challenges facing the industry.
Morgan questioned the wisdom of supporting a candidate without securing any policy concessions in return. He believes that Thieriot’s endorsement could alienate members of the crypto community who are wary of Harris’s stance on crypto.
A Divided Crypto Community
Thieriot’s endorsement has ignited a debate within the crypto community. Some believe that engaging with the political process is essential for the industry’s future, while others argue that supporting a candidate without clear commitments on crypto policy is a risky gamble.
The debate highlights the growing political awareness within the crypto community and the challenges of navigating the complex world of crypto regulation.
