Longtime cryptocurrency investor and billionaire Mark Cuban congratulated Republican Party candidate Donald Trump on November 6 for defeating Democratic candidate Kamala Harris in the 2024 US presidential election.
“Congratulations @realDonaldTrump. You won fair and square,” Cuban joked, before congratulating X founder and vociferous Trump supporter Elon Musk. The Pittsburgh-born businessman has been a longtime supporter of Harris since she announced her candidacy for president after Joe Biden withdrew from the race this July.
Several key players in the blockchain and emerging technology sector, in addition to Musk, have been vocal supporters of Trump’s campaign, including Gemini co-founders Tyler and Cameron Winklevoss.
In a lukewarm post on X, Cuban referred to Trump’s endorsement of Silicon Valley as “playing with bitcoin” because his would make it easier to “run the cryptocurrency business due to the inevitable and required changes at the SEC.”
The US Securities and Exchange Commission (SEC) has long been criticized for its regulation-by-enforcement approach to digital assets. Upon returning to the Oval Office, Trump promised to fire its chairman, Gary Gensler.
“We’re going to have regulation, but from now on, the rules will be made by people who love your industry, not hate it.” – Trump said at the Bitcoin 2024 conference this summer. Following Trump’s election, the price of bitcoin rose above $75,000, breaking records set in March of this year.
Cuban appeared on the Harris campaign trail several times before Election Day, most recently sitting down for a taped conversation with Harris about her proposed economic plan. The former chief prosecutor tried to win over cryptocurrency voters weeks before the election as she competed to win the White House, albeit unsuccessfully.
“We will support innovative technologies, such as artificial intelligence and digital assets, while protecting consumers and investors.” – Harris said during a recent campaign stop. “We will create a secure business environment with consistent and transparent rules.”
Trump is scheduled to be sworn in on January 20, 2025, marking the official start of his second term.
