Liz, I'm really interested more broadly in how crypto is being used as a gauge for the former President Trump's performance or chances of being re-elected. There are several different ways. So firstly, if you look at the price of Bitcoin, you can consider that as a proxy for how the crypto sector views Trump's chances of being elected in the upcoming presidential election. This is because Trump has come out as a staunchly pro-crypto candidate, forcing the Democrats' hand on the issue of crypto policy. Now, if you look at prediction markets like Poly market, what's really, really fascinating is that almost in real time viewers were able to track crypto sector sentiment around the timestamps of when each candidate came up with their respective arguments. Liz, I was doing something similar last night because we'd reported on it. We said, okay, if you want to follow some sort of real-time sentiment, look at specific crypto assets that trade 24/7.

What I couldn't work out was, is this just a clear situation where Trump is the crypto candidate and Harris is not, or there's just not a thorough understanding of policy for either candidate? It's a really good question. So overall, when you take a look at markets like prediction markets, information is, of course, imperfect. But I think that's a reflection of the American populace at large in terms of how they vote. What I think is very powerful about tools like Polly Market, other prediction markets as well as political meme coins or political coins, is that they're a way to be able to gauge the barometer in terms of sentiment. And I think that if you take a look at previous elections, there's been enormous appetite in terms of using statistics to track where sentiments at. So, for example, 538, and I see Polly Market and political meme coins as a natural extension of this behavior. Let's just talk about how the campaign, Trump campaign more broadly, has embraced

crypto non-fungible tokens. But also this Liberty Financial, World Liberty Financial. It seems to be a DeFi potential protocol. It doesn't seem to be live yet, but being talked around, particularly by his sons. What do you make of that particular project? I think Trump is trying to put his money where his mouth is, and he's trying to enter into these various different forays to show his dedication and interest in the crypto space. Where do we go from here? I mean, there comes a point where the markets can continue doing what they're doing, be they prediction or a specific asset you track, or people look elsewhere. What's your kind of hunch in that respect? So when it comes to tools like prediction markets and meme coins, I see this as a natural extension of behavior that actually started during the pandemic with Wall Street bets. And what happened during then is that because of the pandemic, people were starved for, you know, social contact with their friends and family, and they

were able to form these bonds with other traders on such forums. So what it means is that for a lot of younger people, investing is not necessarily just about ROI; it's also about Internet culture and memes, and also entertainment, as well as community. And where I see political meme coins coming out of this or solidified tokens is that it really is a natural successor of this kind of trend. So with political meme coins, it combines financial nihilism with political satire, with internet-grown culture, as well as entertainment. So really transforming how the younger generations not only look at investing but participate in the political process.

Bitcoin Retreats as Harris Dents Crypto’s Trump Trade

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