President Donald Trump’s approval rating has languished, but his relentless cheerleading for the crypto industry has earned him a segment of loyal friends among American voters: crypto investors who are stepping outside of their personal politics to praise his work and see the president and his Republican allies as the best bet for progress in digital assets.
Next year’s congressional midterms could continue to see a sizable vote bloc up for grabs by candidates championing crypto policy, with 64% of investors in a new poll saying a candidate’s crypto stance is important to them, according to responses from 800 respondents in a McLaughlin & Associates online survey released Wednesday. Polls in previous elections in 2024 had already begun to demonstrate a growing segment of voters who considered crypto policy among their top concerns.
In this national snapshot, which was taken in late July under a committee of the Digital Chamber, an industry lobbying group, 73% supported Trump’s crypto agenda and actions, with an estimated 3.4% margin of error. For this cohort of investors, the president carried an approval rating of 54% – well above where he was with the rest of the electorate.
Trump’s current overall approval rating has dropped to about 40%, according to Gallup, which is a few points below former President Joe Biden’s mark at the same time in this previous presidential quarter, although it is well above the 34% Trump ended his first term in office.
Particularly notable about Trump’s relatively bright approval rating from crypto voters is that the group otherwise tends slightly toward more Democratic and liberal views, their responses indicated. But far more of them trust Trump and Republicans to elevate crypto causes (37%) than Democrats (24%), although “neither” came in a strong third place (16%).
Investors surveyed were more likely to be registered to vote than the rest of the population, and they are more likely to be college educated, male, and earn lower income, in addition to generally being younger and more racially diverse.
Under Trump and the Republican-controlled Congress, the first major crypto law was created this year to govern stablecoin issuers. The industry’s next priority is completing a bill that will regulate the broader U.S. crypto markets, although that effort may languish this year as lawmakers in Congress are mired in the budget fight that has shut down the federal government.
Although Republicans have been stronger overall supporters of crypto measures, a large swath of Democrats have joined in on key votes to advance policies.
The industry’s massive political action committee, Fairshake, has already amassed a round of funds to influence the outcomes of next year’s congressional races. The Super Pac has demonstrated an interest in 2024 in spreading money between the two parties, although other prominent crypto insiders favor the Republicans.
Read more: Trump’s new crypto enthusiasm could help him win more votes: poll
