Bitrabo Editorial
JP Thieriot, former CEO of Upbit, endorsed Kamala Harris for President, sparking backlash from the crypto community, including pro-XRP lawyer Bill Morgan.
Thieriot, who continued as a Director at Upbit after stepping down, supported XRP during the SEC lawsuit against Ripple and highlighted the decision’s correctness post-factum. He returned to the public sphere after a prolonged silence.
In his endorsement, Thieriot equated his support for Harris with his previous choice to retain XRP, both considered unconventional yet justified decisions. He expressed hope that Harris’ campaign signals a willingness to reset relations with the crypto industry and provides an opportunity for constructive engagement. Thieriot stressed on being part of policy dialogues regardless of the leader in power.
Thieriot suggested that Harris is more likely to support crypto growth compared to Trump, emphasizing the need for the crypto community to influence Harris’ digital asset policies actively.
Pro-XRP lawyer Bill Morgan criticized Thieriot’s endorsement for lacking clear commitments from Harris on crypto policies, raising concerns about the riskiness of backing a candidate amidst regulatory uncertainties. Morgan questioned the decision to endorse Harris early without knowing her stance on crypto, suggesting it could be seen as unwarranted support.
Morgan also pointed out that Thieriot’s endorsement might be seen as offering support without securing policy assurances in return, deeming it a debatable move. XRP was trading at $0.5632 at the time of reporting.
Response from Pro-XRP Lawyer Bill Morgan
Bill Morgan, a prominent figure in the XRP community, critiqued Thieriot’s hasty endorsement of Kamala Harris, emphasizing the need for clarity on Harris’ crypto policies before showing support. Morgan warned about the risks of backing a candidate without a defined stance on crypto, especially amidst regulatory challenges faced by the industry.
Morgan questioned Thieriot’s decision to endorse Harris early on, without waiting for her stance on crypto, as it could be viewed as endorsing without basis. He also highlighted the importance of gaining policy commitments before extending support to political candidates, considering the current regulatory climate.
Morgan cautioned that backing a candidate without receiving any assurances on crypto policies could be interpreted as providing unwarranted support, mentioning the significance of policy alignment with the crypto community’s interests.