Kamala Horris’ (KAMA) memecoin posted its first noticeable gain in over a month, rising 7% in the past 24 hours in response to comments from the U.S. Vice President Kamala Harriswho has pledged to support the development of the cryptocurrency sector if elected.

Harris pledges support for cryptocurrencies and artificial intelligence

Speech donors at a fundraiser in New York City on Sunday, Harris outlined her economic agenda, which aims to support innovation in the artificial intelligence (AI) and digital asset sectors while providing consumer protections, according to Bloomberg. During the event, held at Cipriani Wall Street, Harris said:

I will bring together workers, petite business founders and innovators, and huge businesses. We will work together to invest in America’s competitiveness and future. We will support groundbreaking technologies like AI and digital assets while protecting our consumers and investors.

Interestingly, this is Harris’ first public comment on cryptocurrencies as the Democratic presidential candidate, raising expectations for her from investors and enthusiasts. position on digital assets compared to President Joe Biden’s administration.

The cryptocurrency sector is gaining more and more influence Presidential elections 2024especially as industry executives and investors express frustration with what they see as onerous regulations introduced by Biden.

Harris’ campaign has expressed a desire to support the development of digital assets while also advocating for necessary safeguards, especially in airy of recent “high-profile failures” in the cryptocurrency market.

In contrast, former President Donald Trump, Harris’ Republican opponent, actively courted the cryptocurrency industry, promising replacing Securities and Exchange Commission (SEC) Chairman Gary Gensler and creating a framework for stablecoins.

Harris outpaces Trump in August fundraising campaign

According to the report, Harris’ fundraiser was a major event designed to bolster her “financial advantage” in the race against former President Trump. Tickets to the event ranged from $500 to nearly $1 million, giving top donors exclusive access to meet with Harris and attend additional events.

Harris’ campaign has had impressive fundraising results, raising $361 million in August alone, leading to $404 million in campaign funds as of early September.

This financial support exceeds the $130 million raised by Asset and the Republican National Committee during the same period, giving Harris and the Democrats a substantial cash advantage of $109 million.

KAMA grows amid growing optimism about Harris’ presidential bid

Kamala Harris’ recent statements have boosted her fundraising stats and led to a surge in the value of memecoin KAMA, which saw its first gain in over a month. Currently trading at $0.0052, KAMA is up 7.2%, recovering from a drop to $0.0500 earlier this month amid a broader market decrease.

Despite the recent rally, KAMA remains down nearly 87% from its all-time high of $0.039 reached on July 24, according to CoinGecko data.

The question remains whether there will be further announcements and statements. support for the digital asset industry could lead to further gains for the token in the coming days, with less than two months left until the presidential election.

Featured image from DALL-E, chart from TradingView.com