Crypto enthusiasts and fans of Detroit rapper Big Sean gathered at the Lager House, located just outside downtown Detroit, for the third leg of the America Loves Crypto Tour. The event was a blend of live entertainment and a rallying cry to mobilize crypto voters for the upcoming 2024 elections, following prior stops in Arizona and Nevada.
Michigan is regarded as a pivotal state, and the Stand With Crypto Alliance recognizes the significance of the state’s 940,000 bipartisan Bitcoin and crypto enthusiasts — 25,000 of whom are members of Stand With Crypto — in influencing the forthcoming presidential election. The slim margin of just about 156,000 voters in the 2020 election indicates that crypto voters could be a decisive factor in the 2024 outcomes.
Local startup founders, blockchain clubs from universities, former State Representative Ryan Berman (R), and representatives from the Stand With Crypto Alliance took to the stage during this battleground state showcase to deliver a crucial message: Digital asset owners and entrepreneurs possess influence, and it’s the moment to assert their political voices.
In recent years, the inconsistent regulatory measures from the US Securities and Exchange Commission (SEC) have stifled the industry. Adam Zientarski, co-founder of Detroit Ledger Technologies, expressed a desire to see this change, stating that he hopes “startups can actually concentrate on growth instead of relocating to other countries.” He urged regulators to “allow them to build” on behalf of the state’s entrepreneurs.
In a conversation with Bitcoin Magazine, former Michigan State Representative and Attorney General candidate Ryan Berman shared similar sentiments regarding the significance of regulation.
“While it’s hard to predict the future of this tech space, we must ensure that individuals can innovate and possess the necessary resources without government interference,” Berman stated. “Detroit has been experiencing a resurgence over the past few decades. It would be advantageous to put Michigan on the map by inviting these kinds of companies and fostering innovation.”
Berman further highlighted the economic implications of nurturing innovation in the state:
“At this event, we heard from entrepreneurs at the University of Michigan, which has a student body comprised of half out-of-state individuals. The in-state students come from our large universities — currently, many of our students are leaving Michigan in search of jobs. How can we retain our students? Technology is key.”
Crypto Education: Not Just For Elected Officials
Technological advancement took center stage during the America Loves Crypto event in The Motor City, with a noteworthy emphasis on the cultural intrigue surrounding Bitcoin and crypto, coupled with the pride that many Detroit residents, particularly college students, feel for their home state. The President of the University of Michigan Blockchain Club, Evan Solomon, received enthusiastic applause from the audience when he passionately acknowledged his university.
College students and Michigan’s educational institutions, which are a point of pride, are closely monitoring Bitcoin and crypto as the elections approach. In an interview with Bitcoin Magazine, Solomon revealed that his campus club has garnered support from the esteemed Ross School of Business to host an event featuring 25 participating organizations.
Solomon also noted that clear regulation is “the single most important factor” in attracting talent and strengthening the industry within the state. As students evaluate potential careers or companies to join after graduation, the fear of over-regulation plays a significant role in their decisions. However, optimism is growing, particularly after a recent meeting with U.S. Senator Gary Peters (D), where Solomon stated: “I felt the reception was positive; they were eager to listen to us and wanted to learn about the applications.”
Code And Law: Constitutional Battles for Developers
In Michigan, Bitcoin and crypto represent not only economic opportunities but also critical constitutional considerations for more than 940,000 crypto owners in the state.
Berman, drawing on his legal background, discussed how First, Second, and Fourth Amendment issues have shaped his views on cryptocurrency. He pointed out that 3D printing files for firearms relate to the Second Amendment and intertwine with free speech and privacy rights, noting parallels with cryptocurrency as open-source privacy tool developers face legal challenges.
“Freedom of speech is a core principle of our Founding Fathers. Publishing a manual can be harmful if misused, but [in regards to 3D-printed firearms], there are many legitimate uses. Even if there aren’t any legitimate uses, the focus should be on freedom — that’s a First Amendment concern. I firmly advocate not just for the Second and First Amendments, but particularly for the Fourth Amendment when discussing encrypted communication.”
America Loves Crypto continues its tour this week and next in Milwaukee, Philadelphia, and Washington D.C. Attendees can RSVP for these free events, where they can also register to vote while connecting with like-minded individuals ahead of Election Day this November.
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