Marathon Digital Execs Meet with DNC Chair as Democrats Warm Up to Crypto Industry

Marathon Digital executives recently met with Jamie R. Harrison, the chair of the Democratic National Committee, along with his advisors. This meeting shows that Democrats are starting to pay attention to the cryptocurrency sector, even though the industry isn't well represented in the party's new platform.

About a week ago, they discussed ways to lessen the environmental impact of Bitcoin mining. Jayson Browder, Marathon's Senior Vice President of Government Affairs, mentioned that they also talked about ongoing efforts to reduce methane and carbon emissions related to mining.

They reviewed recent polling data that indicates a rise in both retail and institutional investments in cryptocurrency across the U.S. This conversation follows signs that Democrats are softening their previous stances on crypto as the presidential election approaches. Experts suggest this election could be very close.

“We talked to them about policies that could be favorable for the DNC platform,” Browder said. “They seem interested in engaging with our industry on these issues and understanding the environmental concerns some party members might have.”

It’s not clear if the DNC has reached out to other cryptocurrency companies before the Democratic National Convention happening this week in Chicago. Committee representatives did not respond to requests for comment.

The meeting took place just a week before the Democrats revealed their 2024 platform, which was released late Sunday. This 92-page document does not mention cryptocurrencies or blockchain technology, which is a stark contrast to the Republican platform released earlier this summer.

The DNC's omission of crypto comes after Marathon submitted a list of digital currency policy recommendations to the party this summer, according to Browder.

Crypto advocates are watching closely to see if Democrats will acknowledge the industry during the convention, especially since party members are expected to formally nominate Vice President Kamala Harris as their presidential candidate.

Harris has faced skepticism from some in the crypto community, such as Ryan Selkis from Messari and the Winklevoss twins from Gemini. This skepticism stems from the U.S. Securities and Exchange Commission’s actions against digital asset firms during much of the Biden-Harris administration.

The meeting between DNC officials and Marathon executives signals that Democrats are becoming more open to engaging with the cryptocurrency industry. Earlier this year, several Democratic lawmakers teamed up with Republicans to overturn SAB 121, a SEC rule criticized for stifling digital asset innovation in the U.S. Additionally, Senate Majority Leader Chuck Schumer and other Democrats held a Crypto4Harris roundtable discussion last week, which included key figures from the crypto industry, from BitGo to Coinbase.

This shift in the Democratic Party's stance comes as the pro-crypto super PAC Fairshake invests millions in supporting Democratic candidates in important battleground states like Michigan and Arizona. Fairshake has raised over $200 million, making it one of the largest political action committees in the 2024 election cycle, according to data from OpenSecrets.