Former Upbit CEO Defends XRP Decision, Endorses Kamala Harris for President Amid Crypto Community Backlash

• Former Upbit CEO JP Thieriot publicly endorsed Kamala Harris for President late Thursday via a series of posts on X, sparking notable reactions within the crypto industry.
• This endorsement comes despite significant pushback from well-known figures in the sector, including pro-XRP lawyer Bill Morgan.
• Thieriot’s endorsement has reignited discussions within the crypto community regarding political affiliations and their impact on the evolving landscape of digital currencies.

JP Thieriot, former CEO of Upbit, endorses Kamala Harris for President, triggering mixed reactions within the crypto community.

Thieriot Touts Harris Endorsement as Visionary Move

In a bold statement, JP Thieriot compared his endorsement of Kamala Harris to his earlier decision to keep XRP listed on Upbit amid SEC litigation. He described both moves as contrarian but ultimately correct, positioning Harris as a forward-thinking candidate who could reset relations with the crypto sector. Thieriot emphasized the importance of having a voice in policy discussions and implied that Harris’s administration could be more receptive to technological advancements compared to the previous leadership.

Engagement Over Passivity: Thieriot’s Call to the Crypto Community

Thieriot urged the crypto community not to shy away from engaging with the Harris campaign. He argued that proactive involvement could significantly influence Harris’s stance on digital assets, reiterating that such engagement is crucial for ensuring that the sector’s interests are represented. According to Thieriot, this is a pivotal moment for cryptocurrencies to gain the attention and consideration of U.S. policymakers.

Bill Morgan’s Counter-Argument

Bill Morgan, a prominent pro-XRP lawyer, was quick to criticize Thieriot’s endorsement, questioning the timing and rationale behind supporting Harris without explicit crypto policies on the table. Morgan expressed concerns that Thieriot’s political alignment might alienate the crypto community, which remains cautious of regulatory stances from both major political spectrums. He warned of the risks involved in backing a candidate without clear commitments to support the industry.

Implications for the Crypto Sector

Morgan’s criticism highlights broader apprehensions within the crypto industry regarding political endorsements, particularly when they come without concrete policy assurances. He suggested that the crypto community could be rewarded for its support by achieving tangible policy commitments that aid in the industry’s growth and regulatory clarity. Furthermore, aligning too soon with a candidate could be seen as prematurely conceding support without securing necessary guarantees.

Conclusion

JP Thieriot’s public endorsement of Kamala Harris for President has stirred significant debate within the crypto sector. While Thieriot views it as a strategic opportunity for the industry to gain a foothold in future policy formulation, critics like Bill Morgan see it as a risky move without guaranteed returns. Ultimately, this discourse underscores the intricate balance the crypto community must maintain when engaging with political figures, emphasizing the importance of securing meaningful commitments to support the sector’s evolving interests.