Donald Trump has picked Sen. JD Vance (R-Ohio) as his vice presidential nominee for the 2024 elections. Vance’s experience in the tech and finance industries, alongside his ties to companies and CEOs, places him as the best candidate for the development of such industries. That includes the digital assets industry, which he has massively supported.
Trump wrote on Truth Social about selecting the republican vice presidential nominee, “After lengthy deliberation and thought, and considering the tremendous talents of many others, I have decided that the person best suited to assume the position of Vice President of the United States is Senator J.D. Vance of the Great State of Ohio.”
About his qualifications and achievements, Trump mentioned, “J.D. has had a very successful business career in Technology and Finance, and now, during the Campaign, will be strongly focused on the people he fought so brilliantly for, the American Workers and Farmers in Pennsylvania, Michigan, Wisconsin, Ohio, Minnesota, and far beyond….”
He even had a tremendous 70% odds to become the vice presidential nominee on the prediction markets Polymarket on Monday. Rep. Marko Rubio of Florida and Governor Doug Burgum of North Dakota were viewed in political circles as having good chances of being picked. However, Trump chose Vance.
Vance is a favorite among crypto CEOs and VCs due to his favorable stance toward digital assets and efforts to bring pro-crypto legislation. He has also drafted a bill to revamp how the US governs digital assets, which is said to be very crypto-friendly.
Politico reported on the matter last month, writing, “Vance’s plan would overhaul how the SEC and the CFTC police the crypto market, a big priority for crypto firms and investors unhappy with current Washington policy.” Many in the crypto ecosystem have awaited such a change due to the unfair regulatory powers agencies like the SEC use to constrict innovation in the industry.
CEOs of top crypto firms have lately voiced their concerns over the agency’s actions more than ever. Trump has shown his support for the crypto industry over the past months as well. The duo could bring the changes crypto enthusiasts in the US want to see if they emerge victorious in the election.
