Winklevoss Twins Criticize Kamala Harris, Shiba Inu's Stagnating Burn Rate, And More: This Week In Crypto

The week was buzzing with cryptocurrency news, from the Winklevoss twins’ critique of Vice President Kamala Harris‘ absence at a crypto roundtable to the stagnating burn rate of Shiba Inu’s tokens. The crypto world also saw some political influences, with Anthony Scaramucci advocating for a bipartisan commitment to crypto regulation and Mark Cuban securing an assurance from Chuck Schumer (D-NY) on sensible crypto law. Let’s dive into the details.

Winklevoss Twins Criticize Kamala Harris

Co-founders of Gemini, Cameron and Tyler Winklevoss, expressed their disappointment over Harris’ continued absence from cryptocurrency roundtables. Cameron Winklevoss took to social media to voice his concerns, stating, "Harris is a no-show again for the latest crypto roundtable. But don’t worry, she’s really into crypto. She gets it. Progress is being made. We just can't point to anything at this time." His brother, Tyler, echoed these sentiments.

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Shiba Inu’s Stagnating Burn Rate

Shiba Inu SHIB/USD saw a 45% drop in its burn rate over two days as of Thursday, causing traders to question the coin’s near-term upside. In other news, the Shib community launched ShibHub, an app that forms the core of the Shiba ecosystem, allowing users to engage in DeFi, NFTs, social networking, and Web3 gaming.

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See Also: Ethereum Creator Vitalik Buterin Shakes Up Crypto World With Surprise ETH Deposit To Exchange

Scaramucci Advocates for Bipartisan Crypto Regulation

Scaramucci, CEO of SkyBridge Capital, stressed the need for positive and bipartisan regulation of digital assets during a virtual town hall interaction organized by the “Crypto for Harris” advocacy group. He emphasized that industry leaders wish to avoid political battles and maintain neutrality.

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Chuck Schumer’s Assurance to Mark Cuban

Senate Majority Leader Schumer assured billionaire entrepreneur Cuban of the importance of “sensible and long-lasting” regulation for the crypto industry during a virtual town hall interaction. Schumer acknowledged the growing popularity of cryptocurrencies, stating that approximately 20% of Americans use them and that the number is expected to rise.

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Trump vs. Harris: Impact on Crypto

As the U.S. presidential election approaches, market sentiment suggests that a victory for Donald Trump could be bullish for crypto assets, while a win for Kamala Harris could be bearish. A Bernstein report highlights the emergence of Polymarket, a crypto-based prediction market, as a key indicator of election trends.

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Read Next: Trump-Era White House Official Anthony Scaramucci Says Industry Leaders Want Bipartisan Commitment On Crypto Regulation

Image via Shutterstock

This story was generated using Benzinga Neuro and edited by Anan Ashraf.