Long-time crypto investor and billionaire businessman Mark Cuban congratulated Republican nominee Donald Trump on November 6 for defeating Democratic pick Kamala Harris in the 2024 U.S. presidential election.
“Congrats @realDonaldTrump. You won fair and square,” Cuban quipped before congratulating X founder and vocal Trump supporter Elon Musk.
The Pittsburgh-born businessman has long supported Harris since she announced her presidential candidacy following Joe Biden’s withdrawal from the race this past July.
Several key players in the blockchain and emerging tech sectors alongside Musk have been vocal advocates of Trump’s campaign, including Gemini co-founders Tyler and Cameron Winklevoss.
This week, venture capital firm Andreessen Horowitz’s web3 branch, a16z, donated $23 to the former U.S. president’s campaign.
In a summer post to X, Cuban referred to Trump’s support from Silicon Valley as a “bitcoin play,” as a victory for the former reality television star would make it “easier to operate a crypto business because of the inevitable, and required, changes at the SEC.”
The United States Securities and Exchange Commission (SEC) has long been criticized for its regulation-by-enforcement approach to digital assets. Upon returning to the Oval Office, Trump has pledged to fire its chair, Gary Gensler.
“We will have regulations, but from now on, the rules will be written by the people who love your industry, not hate your industry,” Trump said at the Bitcoin 2024 Conference this past summer.
Following Trump’s election, the price of Bitcoin soared above $75,000, breaking record highs set by the Satoshi-Nakamoto this past March.
Cuban had notably appeared on the campaign trail for Harris several times ahead of Election Day, most recently sitting down for a taped discussion with Harris on her proposed economic plan.
The former top prosecutor had attempted to court crypto voters in the weeks before the election as she vied to win the White House, albeit to no avail.
“We will encourage innovative technologies like AI and digital assets while protecting consumers and investors,” Harris said during a recent campaign stop. “We will create a safe business environment with consistent and transparent rules of the road.”
Trump is slated to be sworn in on January 20, 2025, to begin officially serving his second term in office.
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