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Memecoin Kamala Horris (KAMA) has experienced its first significant rise in over a month, surging by 7% in the last 24 hours. This uptick comes on the heels of comments made by US Vice President Kamala Harris, who has pledged to support the growth of the crypto industry if elected.
Harris Promises Support For Crypto And AI
Speaking to donors at a fundraiser in New York City, Harris laid out her economic agenda, which includes fostering innovation in the artificial intelligence (AI) and digital asset sectors while ensuring consumer protection. At the event held at Cipriani Wall Street, Harris expressed:
“I will bring together labor, small business founders and innovators, and major companies. We will partner together to invest in America’s competitiveness and future. We will encourage innovative technologies like AI and digital assets, while protecting our consumers and investors.”
This marks Harris’s first public comment on cryptocurrency as a Democratic presidential candidate, raising expectations among investors and enthusiasts about her stance on digital assets compared to President Joe Biden’s administration.
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The cryptocurrency sector is becoming increasingly influential in the 2024 presidential election, especially as industry executives and investors express frustration over what they see as heavy regulations under Biden. Harris’s campaign has indicated a desire to support the growth of digital assets while also advocating for necessary safeguards, particularly in light of recent “high-profile failures” in the crypto market.
In contrast, former President Donald Trump, Harris’s Republican opponent, has actively courted the crypto industry, promising to replace Securities and Exchange Commission (SEC) Chair Gary Gensler and to create a stablecoin framework.
Harris Outraises Trump In August Fundraising Push
According to reports, Harris’s fundraiser was a significant event aimed at bolstering her “financial advantage” in the race against former president Trump. Tickets for the event ranged from $500 to nearly $1 million, allowing top-tier donors exclusive access to meet Harris and attend additional events.
Harris’s campaign has reported impressive fundraising figures, raising $361 million in August alone, contributing to $404 million in campaign funds at the start of September. This financial backing surpasses the $130 million raised by Trump and the Republican National Committee during the same period, giving Harris and the Democrats a substantial $109 million cash advantage.
KAMA Surges Amid Growing Optimism For Harris’s Presidential Bid
Kamala Harris’s recent statements have boosted her fundraising figures and led to gains for the memecoin KAMA, which has seen its first increase in over a month. Currently trading at $0.0052, KAMA has recorded a gain of 7.2%, recovering from a dip to $0.0500 earlier this month amidst a broader market decline.
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Despite this recent uptick, KAMA remains down nearly 87% from its all-time high of $0.039, reached on July 24, according to CoinGecko data.
It remains to be seen whether further announcements and statements of support for the digital asset industry could lead to further gains for the token in the coming days, with less than two months until the presidential election.
The 1D chart shows KAMA’s price increase in the last 24 hours.
