US bankers favor Trump but predict Harris victory

A recent survey conducted among U.S. bankers reveals that while former President Donald Trump has a slight edge in support for his cryptocurrency and taxation policies, most respondents expect Vice President Kamala Harris to win the upcoming presidential election. 

The survey, conducted by American Banker publisher Arizent, gathered responses from 191 banking professionals. 

Results show that 59% of respondents believe Harris is the frontrunner for the presidency. 

However, when asked about which administration would be better for the banking industry, 58% favored Trump, while only 35% indicated a preference for Harris. 

American Banker reported, “Interestingly, 58% of bankers surveyed felt that a Trump administration would be better for their industry and individual companies, against 35% who said Harris would be best for the banking industry.” 

The current election cycle has presented a unique landscape, with both candidates dedicating minimal time to discussing their specific policies. 

This lack of clarity has created uncertainty within the banking sector. 

Isaac Boltansky, managing director at BTIG, noted that bankers are “forced to do a bit more extrapolating than we are used to” due to the ambiguous policy discussions. 

A notable aspect of this election is the increasing focus on cryptocurrency and the anticipated regulatory approaches from the next administration. 

Although cryptocurrency and Bitcoin (CRYPTO:BTC), do not seem to heavily influence voter preferences in polls, the financial industry is eager for clear regulations. 

Both Trump and Harris have expressed support for cryptocurrency and digital asset technology. 

In past years, Trump was critical of Bitcoin but has recently stated his desire for the U.S. to become the “Bitcoin capital of the world.” 

Conversely, Harris has indicated support for emerging technologies, including blockchain, but has not detailed her regulatory stance on cryptocurrencies.