- Fundraising Analysis
- Campaign Expenditures
- Support from the Crypto Industry
According to Federal Election Commission (FEC) data, Democratic Party candidate Kamala Harris’s campaign outraised her Republican counterpart, Donald Trump, in August.
Fundraising Analysis
FEC data shows that Harris’s campaign raised $189 million during the month, quadrupling the $44 million that Trump’s campaign received in the same period. The data, which only covers funds in the candidates’ main campaign accounts, highlights the increasing support for Harris as the election draws near. The total funding raised by each candidate, including their Party committees, also shows that the Harris team raised more money last month.
Campaign Expenditures
The FEC filings show that Harris and the Democratic National Committee (DNC) spent $258 million in August, far higher than the $121 million from Trump and the Republican National Committee (RNC). Despite spending more than Trump in August, Harris’s campaign is still in a better financial position, with $404 million in cash versus Trump’s $295 million. Many believe the higher cash war chest could allow the vice president’s team to intensify its efforts in the final months.
Support from the Crypto Industry
Meanwhile, the crypto industry remains undecided about who to support between Harris and Trump. Trump seems to enjoy popular support because of his clear stance on the industry and his promises to implement policies that will favor the industry if elected. However, he is no longer the obvious choice that he was when Biden was the candidate. Data from the blockchain-based prediction market Polymarket shows that Harris has a 51% odds of winning the elections while Trump has 49% odds. Former White House director of communications Anthony Scaramucci recently said at the Token2049 conference that he is part of a group of crypto advocates advising Harris on her policies for digital assets ahead of the elections.
The introduction of new financial data highlights the increasing support for Kamala Harris as the elections approach. Despite leading in fundraising and spending, the crypto industry remains undecided on which candidate to support.
