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source:BitPush
According to the Wall Street Journal, if Trump is elected, Vance, who will turn 40 in August, will become one of the youngest vice presidents in U.S. history.
On July 15, 2024 local time, former U.S. President Donald Trump has selected Ohio Senator J.D. Vance as his vice presidential campaign mate for the 2024 election, which is the Republican “Make America Great Again” (MAGA) faction.Another tough statement will surely shock the unprecedented election year.
Vance’s qualifications are arguably unmistakable: he served in the Marine Corps, had a degree in the Yale Law School, and had deep connections in Silicon Valley.He is the most representative figure of “America First” populism and a potential promoter of Trump’s slogan “Make America Great Again”.
According to the Wall Street Journal, if Trump is elected, Vance, who will turn 40 in August, will become one of the youngest vice presidents in U.S. history.
Crypto Allies + Bitcoin Holder?
What excites the crypto community is that Vance may be a pro-crypto ally.
J.D. Vance disclosed in his mandatory annual report for the calendar year 2022 filed in October 2023 that as of 2022, he owns $100,001 to $250,000 worth of Bitcoin, which are held through Coinbase.
In addition, Vance also opened accounts with brokerage firms Robinhood and Charles Schwab.
The vice presidential candidate has not submitted a 2023 financial disclosure.According to Cincinnati.com, his current estimated net worth is at least $5 million, up to $10.5 million.
The Ohio Republican has been supporting the cryptocurrency industry and criticized the Securities and Exchange Commission (SEC).
Last year, Vance and other Republican lawmakers wrote a letter to US SEC Chairman Gary Gensler, expressing concerns about the inaccurate statements the agency made in the lawsuit against cryptocurrency startup DEBT Box.
Vance also criticized the Canadian government’s decision to freeze bank accounts of those involved in the 2022 Ottawa Truck Driver Protest.”That’s why cryptocurrencies are booming, and if you have a wrong political view, the regime cuts off your chances of accessing banking services.”
Vance is also a member of the Senate Banking Committee, and he is drafting a bill that regulates the industry and plans to introduce it in July, according to Politico last month.On the House side, lawmakers passed a bill in May to fully regulate cryptocurrencies.The bill, called FIT21, will give the Commodity Futures Trading Commission (CFTC) more power and funds to oversee the cryptocurrency spot market and “digital commodities”, especially Bitcoin.
According to Politico, Vance plans to improve FIT21 and take a more friendly approach to the industry.
What does this mean for crypto voters?
In the most direct sense, both major members of the U.S. presidential candidate have clearly expressed support for the industry – the first time in history.
“Former President Trump made it clear that if he wins his second term, supporting our home-based digital asset entrepreneurs will be the top priority. And Senator Vance is suitable and supportive,” said Kristin Smith, CEO of the Blockchain Association.The emerging voice of innovative crypto legislation is an ideal candidate for leading the Republican crypto principle. We are pleased to see that supporting crypto is becoming a touchstone for political candidates.”
Enemies become ally?Has publicly criticized Trump
Vance’s political stance has changed a lot over the years:
He condemned Trump as “America’s Hitler” in 2016. During his promotion of his work “Hillbilly Elegy,” Vance called himself “a person who never supports Trump” in an interview with Charlie Rose, and talked about it.”I never like him” said the incoming president.
He told NPR that year, “I can’t stand Trump.” He also wrote an op-ed for The New York Times titled: “Mr. Trump is not suitable for the highest position in our country.”
Later, Vance became one of the former president’s most loyal followers, and his political stance seemed to have changed greatly with the Republican base.
Silicon Valley connections become the “hitchhiking” of politics
Vance, 39, has worked as a venture capitalist for many years and has had more careers in the business world than in the politics.
According to public information, after graduating from Yale Law School in 2013, Vance lived in San Francisco for a while and worked at Mithril Capital.The company was co-founded by former PayPal CEO Peter Thiel and Ajay Royan, who has long provided substantial financial support to the Republican Party.
He also spent some time in Washington, D.C., working at Revolution LLC, a venture capital firm of former AOL CEO Steve Case, where he was responsible for expanding capital opportunities in towns such as Middleton, Ohio (the birthplace of Vance), and other towns.project.
“JD Vance has become the main spokesperson for those across the country who feel abandoned, so he is the best person to help us expand Rise Of The Rest,” Case said in 2017.
It was also during this period that Vance published a memoir, The Lesson of the Countryman: A Memoir of a Family and Cultural Crisis (the previous article Hillbilly Elegy), in 2016, which became the New York Times bestseller.and made him famous in one fell swoop.
He reportedly founded his own fund, Narya Capital, in 2020, backed by Thiel, Marc Andreessen, Eric Schmidt and Scott Dorsey, the Cincinnati-based company was founded to bring East Coast capital into OhioState and other states make investments.
Vance then entered politics and won a U.S. Senate seat representing Ohio in 2022.
According to the Wall Street Journal, this is largely due to Trump’s support.He established a firm populist image in Washington, opposing external contacts and trade agreements, and forged friendships with Donald Trump Jr., which gave him a good position in the election process.
According to the Wall Street Journal, Vance’s experience in Silicon Valley has brought it into relationships with many tech entrepreneurs and helped some of them “get closer” to Trump.
After Trump stepped down, Vance’s contact with the former president was closer, first of all, a meeting held at Mar-a-Lago in spring 2021, with venture capitalist Peter Thiel, who, according to a mutual friend, said Vance isThe only senator who opposes the Ukrainian no-fly zone supported by the North Atlantic Treaty Organization, his remarks have attracted the attention of Trump’s eldest son, Donald Trump Jr.
When Vance began attacking the Republican “neoconservatives”, Trump Jr. began defending him in public, including with his father.Within weeks, Trump, the elder, expressed his support for Vance, ensuring he won the May 2022 primary, with both Trump and Vance saying they have become close personal friends.
The young and promising Vance is likely to help boost the Republican’s appeal in the Midwest states, including working-class voters in Pennsylvania, Michigan, Wisconsin, Ohio, Minnesota, and more.
House Speaker Mike Johnson (R. Louisiana) said: “Trump needs a vice president with innovative ideas and the ability to express these ideas to every American voter, and Senator JD Vance fully meets that requirement. It’s time to unite our country, and we are eager to expand our majority in the House and take advantage of this opportunity to make America great again.”
