David Plouffe, DC insider with deep crypto ties, to join VP Harris' campaign team: reports

David Plouffe, who has taken on roles in the cryptocurrency sector, is reportedly joining U.S. Vice President Kamala Harris' campaign team. 

Plouffe, who previously worked on former President Barack Obama's team, will be a senior adviser to Harris, according to reports from Politico and Reuters on Friday. 

Plouffe has made a number of statements about crypto in the past and, over the last couple of years, joined the Binance Global Advisory Board and also served as a global strategic advisor for Alchemy Pay, a firm that connects crypto and fiat currencies. 

Plouffe, in his capacity as an advisor for Alchemy Pay, spoke about the need for new regulations for the crypto industry in an interview with CoinDesk about a year ago. 

"On the government side, there has to be a sense of, okay, let's not fit this new thing into old rules," Plouffe said. "How do we fashion new rules? But those rules have to protect the public, there has to be transparency, there has to be accountability." 

Plouffe briefly mentioned the collapse of crypto exchange FTX during the 2023 interview and said that put an "intensified spotlight on the industry."

"There is going to be regulations, the question is can the regulators find the right spot so there is confidence for consumers, there's transparency without basically strangling the industry?" Plouffe added. 

Crypto has rapidly become part of the election season landscape. Last month, the Republican Party expressed support for crypto firms and investors in its platform for the 2024 elections, including vowing to end an “unlawful and un-American crackdown” on the U.S. crypto industry.

Meanwhile, Vice President Kamala Harris' team started outreach to the crypto industry a week after President Joe Biden announced he would not be seeking reelection and endorsed Harris to replace him as the Democratic Party's nominee. The Democratic National Convention is slated for later this month to nominate Harris as their candidate officially. 

A crypto roundtable is set for Monday, though it's not clear what exactly will be discussed. President Biden's senior adviser Anita Dunn will attend, according to a source familiar. Dunn reportedly plans to leave the White House to join a super political action committee supporting Harris' campaign. Ripple CEO Brad Garlinghouse and executive Chairman Chris Larsen will also attend, according to a source familiar. 

Dunn, lawmakers and crypto leaders met last month in Washington D.C. at the Willard Hotel to talk about a range of topics, such as actions taken by the U.S. Securities and Exchange Commission to the agency's staff accounting bulletin and the need for the Biden administration to engage with the crypto industry. 

The group meeting next week will be smaller than one held last month, according to the source familiar. 

Updated at 7:50 p.m. UTC time on Aug. 2 to include details about Ripple execs attending the crypto meeting