From “The Sorrow of the Countryman” to the New Encrypted Banner Vance’s Vice President’s Road

Written by: Deng Tong, Bitchain Vision

On July 16, 2024, the Republican National Convention officially passed the nomination of JD Vance as a Republican vice presidential candidate.Trump said Senator JD Vance is the best candidate for vice presidential candidate.U.S. President Biden said Republican vice presidential candidate JD Vance is a replica of Trump on some issues.Musk also posted on X platform: Congratulations to JD Vance on becoming the Republican vice presidential candidate, which is an excellent decision.

If Trump is elected, JD Vance, who will turn 40 in August, will become one of the youngest vice presidents in U.S. history, and only two years of elected experience, but he is the most representative of “America First” populism.characters.

Who is JD Vance?Why does Trump favor him?JD Vance If a political career is successfully launched, what impact will it have on the crypto industry?How will JD Vance’s political propositions affect Sino-US relations?

1. From “The Lesbian of the Countryman” to the right-wing populist – Who is JD Vance?

1. Absent, serving, and a Ph.D. in Law

In August 1984, Vance was born in Jackson, Kentucky. When Vance was young, his mother suffered from drug addiction due to years of taking painkillers. She even contracted Shanghai Loin and divorced many times.Vance was raised primarily by grandparents because parents failed to provide a stable family environment.

After graduating from high school, Vance joined the U.S. Marine Corps and was sent to Iraq to serve the U.S. military’s public affairs department.After retiring from the army, Vance went to Ohio State University in Columbus, Ohio and received his Bachelor of Arts degree.

Since graduating from Ohio State University, Vance went to Yale Law School to further his studies and received his Ph.D. in law.The mentor at Yale was Mei Er Cai, who gave a lot of encouragement when Vance decided to write his autobiography in the future.

2. “The Lesson of the Countryman” – “Trump Victory” in the Anti-Trump Pioneer’s Pioneer

In 2016, Harper published Vance’s book “The Lesson of the Countryman: A Memoir of a Crisis in a Family and Culture.”The book was on the New York Times bestseller list in 2016 and 2017.It was a finalist for the 2017 Dayton Literary Peace Prize and won the 2017 Audie Nonfiction Award.The New York Times called it “one of the six best books to help understand Trump’s victory.”The Washington Post called him “the voice of the Rust Zone”, while The New Republic criticized him as “the favorite white trash interpreter of the free media” and “the fake prophet of the blue America.”West Virginia-born economist William Eastley criticized the book, writing: “A rough analysis of a group of people – coastal elites, flying over the United States, Muslims, immigrants, people without college degrees, you can think of itThe—has become the norm. And this is killing our politics.”

Vance rose to fame for his best-selling memoir published in 2016, which tells his chaotic childhood, with a single drug-addicted mother who keeps changing boyfriends in a financially difficult steel city in southwest Ohio.This book vividly describes the anger and despair of many working-class Americans attracted by Trump, Netflix adapted the story into a movie.

In short, this book is about the “forgotten men and women” that Trump mentioned when political needs.But Vance had different views on Trump at that time.Vance, who claimed to be an anti-Trumper, attacked Trump with sharp rhetoric, calling him “annoying” and “reproachable.”He won further praise for the extreme views of the newly elected president and became a political commentator.

In addition, Vance has also made direct and sharp criticisms of Trump, calling him “annoying” and accusing him of “bringing the white working class into a very dark situation”, and calling Trump “the Hitler of the United States”, compared him to “cultural heroin”.But in the end he accepted Trump.

3. The test from Trump

All of this changed around 2018, one of the most sudden and impossible shifts in political memory in recent years.Soon, Vance went from attacker to Trump’s follower.The reason will be clear soon.Vance is very needed by Trump to run for the U.S. Senate.Trump believes that ritual humiliation is the only way to enter his circle, and he tests Vance.At a 2022 rally, Trump mocked the young upstart.”J.D. is flattering me, and he really wants my support,” Trump said.Vance was supported, and Trump also felt the satisfaction of making Vance break his promise.

4. Follow Trump’s right-wing populists

Vance ended up becoming a loyal ally of Trump.Like Trump, he supports Israel and opposes Ukraine.He embraces Trump’s protectionist stance on tariffs.

On cultural issues,Vance said he was willing to consider the federal abortion ban for 15 weeks, but he underestimated it as he realized Trump’s position on the issue was changing.Trump is well aware that the right to abortion is good for the Democrats, so he tries to distance himself from the promise of federal action and insists on removing the promise of the federal ban from the Democratic platform — a cornerstone stance for decades.

BTIG’s general manager of policy research Isaac Boltansky saidVance is a “faithful believer in Trump’s trade protectionist policy”.

“From opposing the agreement reached by US Steel and Japan Steel to an open attitude toward the devaluation of the dollar, Vance’s pace with Trump may bring new enthusiasm to policy efforts,” Bortanski said, addingSay his “protectionist stance” should play a good role in swing states such as Michigan, Pennsylvania and Wisconsin.

Vance also called for the firing of dozens of federal workers and replace them with Republican loyalists.He said in an interview in 2021 that he would “fire every middle-level bureaucrat, every civil servant in the executive state and replace it with our people.”

These remarks echo the proposals in the “2025 Project”, This is the blueprint that some of Trump’s closest former advisers are formulating calls for closing some federal agencies and replacing civil servants with officials who are believed to be more loyal to the former president.

Trump’s son Donald Trump Jr. supports Vance’s election.This decision shows Trump’s influence on his father and how he can play a role in the future Trump administration.Trump’s daughter Ivanka Trump and her husband Jared Kushner held formal positions during Trump’s tenure, but have since shunned his campaign.

He also used his business relationship to raise funds for Trump, including arrangements for a large fundraising event in San Francisco in June led by Silicon Valley investors David Sacks and Chamath Palihapitiya.

Vance has shown that he is very flexible and will undoubtedly keep an eye on Trump’s ever-changing ideas in search of the most political expedient.

Vance’s choice is more a sign that Trump wants to lock in loyal supporters of “MAGA” and make sure they vote—even if it means losing more moderates and independent voters.Vance’s remarks are sometimes harsh and more intense than Trump’s, and his position is more extreme.

But his appeal to MAGA supporters is obvious.Shortly after Trump’s “Truth Social” website announced his election, Kevin Roberts of the Heritage Foundation (author of Trump’s second term 2025 plan blueprint) was ecstatic.”We really support him. We’re so happy,” Roberts told Bloomberg columnist Mary Ellen Krass.

Bitchain Vision Note: MAGA means multi-layered meaning to Trump voters, although most Trump voters believe that “MAGA” (Make America Great Again “make America Great Again”) means “stronger boundaries” and “Better economy”, but they also define it in various other ways, including that it just means “Donald Trump.”

Trump appointed Vance as his campaign partner, promoting the venture capitalist-born senator to Republican presidential candidate, his support for populist politics has attracted national attention and made him a rising star in the partyThe rising star.

Vance is 39, several decades younger than 78-year-old Trump, making the stingy senator a successor to the young and vibrant “MAGA” movement.His election also sent a clear message to the whole country, i.e.Trump is building a campaign to reshape the country, not just for a term, but for the future.

Against the backdrop of escalating global political violence, gunfires at the rally are seriously reminding the importance of the vice president, who will take over the presidency if the president is killed or unable to perform his duties.

2. Silicon Valley investors’ carnival

1. The origin of Vance and Silicon Valley

After graduating from Yale Law School, Vance became head of Mithril Capital Management in 2016, a venture capital firm backed by Thiel, where he served for a relatively short period of time.In 2017, he joined Revolution LLC, a Washington company backed by Steve Case, as a partner focused on startups.In 2019, he moved back to Ohio and founded Narya Capital.Vance draws on Thiel’s approach, citing plots from The Lord of the Rings in his new company, named Narya after the ring worn by the wizard Gandalf in the book.Narya is backed by Thiel and other well-known investors including Eric Schmidt and Marc Andreessen.

2. Vance’s subtle relationship with Silicon Valley

Vance’s relationship with Silicon Valley is somewhat complicated.During the 2022 Senate campaign, which was backed by Thiel, he criticized the big tech companies, saying they have too much power and influence over politics.He argued that his background allowed him to confront “big tech oligarchs.”

Vance also expressed appreciation for the Biden administration’s technology-focused antitrust enforcement, especially FTC Chairman Lena Khan.This sets Vance apart from the Chamber-type Republicans, who have been criticizing Khan for his extensive interpretation of existing antitrust laws to prosecute tech companies that do not match the characteristics of historical monopoly.

“I think Lena Khan is one of the few people in the Biden administration who really did a pretty good job,” Vance said at a meeting in February.

but,While Vance’s criticism of large tech companies may anger some in the industry, it is similar to the emotions expressed by small businesses.Startups and venture capitalists have long complained about the size and strength of large tech companies making it difficult for small companies to compete.Venture capital firm Andreessen Horowitz calls the startup world “small tech” and points out the differences in priorities between small and large corporations.

Vance also competes with Wall Street in other waysHe joined Elizabeth Warren in support of legislation, recovered wages from bank executives when bank institutions collapsed, and supported the railway company with Democratic Senator Sherrod Brown in the wake of East Palestine disaster and proposed TrumpGeneral-supported security bill.

3. Congratulations from Silicon Valley

Major investors in Silicon Valley congratulated Vance on his victory.Musk called the decision a “great choice” and said the presidential candidate lineup “resounded through victory” on his social platform X.Investor and Trump supporter David Sacks, who is scheduled to speak at the Republican Convention on Monday night, called Vance a “American Patriot” in a post.

Delian Asparouhov, a partner at the venture capital firm Founders Fund, backed by billionaire Peter Thiel, summed up the sentiment of many peers, posting: “It’s JD VANCE. There is a former tech venture capitalist in the White House. The greatest country on earth.”

The Silicon Valley tech industry has long been a liberal fortress, located in California, Democratic base camp, and rooted in the progressive San Francisco.butThe Republican power in the technology world has become increasingly obvious recentlyMajor figures such as Musk, Saxophone and Sequoia Capital’s Sean Maguire all expressed support to Trump and donated money to him to support him in the race for president with President Joe Biden.

three,Democratic Party’s Response

Biden slams Vance, questioning the populist qualifications of the Republican No. 2 and says the campaign will cause economic damage to middle-class American families.

“That’s the case for Vance. He’s touted the working class. But now, he and Trump want to raise taxes for middle-class families while pushing for further tax cuts for the rich,” Biden’s article on Xsaid in the post.

The presidential campaign also noted that Trump had fallen out with his last campaign mate, former President Mike Pence, over his refusal to prevent Biden from his victory certification.On January 6, 2021, Trump supporters marched to the U.S. Capitol, and protesters shouted “Hang Mike Pence.”

Biden’s campaign chairman Jennifer O’Malley Dillon saidTrump appointed Vance because he “will do what Mike Pence is reluctant to do on January 6: spare no effort to support Trump and his extreme ‘make America great again’ vision, even if that meansIt’s illegal.”

4. Will Vance be beneficial to the crypto industry?

1.Vance has publicly opposed SEC

Vance has stood with the cryptocurrency industry many times in his political career.

On May 16, Vance was one of 60 senators who voted to overturn the SEC’s controversial SAB 121 accounting standards, a set of policy recommendations to prevent U.S. banks from keeping crypto assets.

Vance spoke on February 28 at the Remedy Fest, a private conference jointly organized by Y Combinator and Bloomberg.

“If there is a worst person in my opinion, at least in terms of my substantial disagreement…it’s Gary Gensler”.

“Gary regulates blockchain and cryptocurrencies in the opposite way it should be.”

On February 7, Vance led several other Republican senators to Gensler to express concerns about enforcement actions against cryptocurrency mining company Debt Box, a judge found that SEC attorneys used false statements to prove the freeze with the companyThe relevant assets are reasonable.

“It is unreasonable for any federal agency … to perform its regulatory mission through enforcement actions rather than setting rules … to operate in such an immoral and unprofessional way.”

Vance expressed concerns about the SEC’s “immoral, unprofessional” approach to prosecuting the debt scandal.Source: JD Vance

2. Compliment and hold cryptocurrency

According to Politico, JD Vance recently drafted a bill that would reform how digital assets are regulated in the United States, which sources say will be more beneficial to the crypto industry than a bill passed by the House of Representatives in June.It is reported that like the House bill, JD Vance’s plan will completely reform the way the US SEC and CFTC regulate cryptocurrency markets are a major priority for cryptocurrency companies and investors who are dissatisfied with the current policies in Washington.

In February 2022, when the Canadian Treasury Secretary froze the bank accounts of a fleet of truck drivers protesting COVID-19 blockade, Vance praised cryptocurrency as a solution to the over-intervention of the government.

“That’s why cryptocurrency is popular, and if you have a wrong political view, the regime cuts off your access to banking services,” he wrote in a February 16 X post.

In a 2022 financial disclosure report filed with the U.S. Senate, Vance reported holdings between $100,001 and $250,000 in Bitcoin.The vice presidential candidate has not submitted a financial disclosure for 2023.His current estimated net worth is at least $5 million, up to $10.5 million.

3. Trump and Vance Quotes

Since Trump’s shooting, the crypto market has rebounded significantly. Just as industry insiders cheered for a return, good news from Republican vice president Vance once again set off a bull market wave in the industry.

According to Bitchain Vision, BTC once rose above $64,500 this morning, ETH broke through $3,400, SOL broke through $160, and Meme coin sector generally rose, with PEPE and Floki both gaining more than 15% in 24 hours.

The recent crypto market can even be described as “killing the bear with one shot”.Therefore, the crypto industry may have a brighter future due to Vance’s election as vice president.

five,China is the biggest threat to the United States—JD Vance’s anti-China stance

JD Vance in his first interview after being appointed Trump’s campaign mateCalling China the biggest threat to the United States stresses that the U.S. government may take a tough stance against China if elected.

When asked about the Ukrainian war, Vance said Trump would negotiate with Moscow and Kiev, “to end the war quickly so that the United States can focus on the real problem, that is, China.”

“This is the biggest threat facing our country, and we are completely distracted by it.”

On China issue, Biden and Trump, like Vance, both have a tough stance on China: Biden has announced a new tax on electric vehicles of 100%.Trump promised that if re-election, he would raise tariffs on China in an all-round way and promised to impose a 60% tariff on all Chinese imported products.

This is not the first time Vance has expressed a tough attitude towards China.The senator, who was a venture capitalist, had previously called for “wide tariffs” on Chinese goods and advocated bringing U.S. manufacturing back home to reduce dependence on China.

Appendix: Vance resume

Born in 1984, he grew up in Middletown, Ohio and was partially raised by his grandmother.After graduating from high school in 2003, he joined the U.S. Marine Corps, served for four years and was sent to Iraq.
He received a bachelor’s degree in political science and philosophy from Ohio State University in 2009 and a law degree from Yale Law School in 2013.
In 2011 he served as legal assistant to Texas Sen. John Cornyn and clerk to U.S. District Judge David Bunning, Kentucky.
From October 2014 to May 2015, he served as litigation assistant in the office of Sidley Austin in Washington, D.C. and as director of operations for a year at Circuit Therapeutics, a biotech company.
He became the head of Mithril Capital Management in San Francisco in 2016 and joined Revolution LLC, a venture capital firm in Washington, D.C. in 2017 as a partner focused on startups.Published in 2016 “The Sorrow of the Country People”.
Moved back to Ohio in 2019 to form Naraya Capital and nonprofit Ohio Renewal.
Run for the U.S. Senate in 2021.Winning a fierce Republican primary in May 2022 and was elected in November.
On July 16, 2024, the Republican National Convention officially passed the nomination of JD Vance as a Republican vice presidential candidate.