Will crypto markets be affected by the U.S. elections, according to insiders?

• The U.S. presidential election in November is not expected to significantly affect the cryptocurrency market, according to insiders.
• Charles Hoskinson, co-founder of Ethereum, stated that regardless of the U.S.'s stance on cryptocurrency, the world is continuing to progress.
• Arthur Hayes, former CEO of BitMEX, stated that Bitcoin's value has increased from zero to its current worth without clear regulations or government acceptance. As a result, he believes that Bitcoin's relevance is questionable.

Despite some crypto experts viewing former President Donald Trump as more favorable to the market, they predicted that the U.S. presidential election in November would have little effect on the cryptocurrency market in Singapore.

According to Charles Hoskinson, co-founder of Ethereum, Trump is the preferred choice among cryptocurrency enthusiasts when compared to Vice President Kamala Harris. This statement was made during an interview with CNBC's "Street Signs Asia" at TOKEN2049 in Singapore, one of the world's largest annual crypto conferences.

The former president was a keynote speaker at the Bitcoin Conference in Nashville in July, where he pledged to keep the federal government's bitcoin holdings and hinted at a plan to make the U.S. a global leader in cryptocurrency.

Despite the U.S.'s stance on crypto, the world is still progressing with regulatory frameworks, as seen in Singapore and the European Union.

Hoskinson stated that, as an American, he would like to see his country rejoin the race and construct things, but regardless, the world's decentralization will not be altered.

If Harris were to win the election, her approach to crypto regulation would likely be similar to Trump's, according to Anthony Scaramucci, founder and managing partner of SkyBridge Capital.

"He expressed optimism on CNBC's "Squawk Box Asia" that the candidate would reveal her economic policies and stance on cryptocurrency regulation."

Scaramucci, who supports Harris in the election, stated that although Trump has indicated that he is pro-crypto, it is difficult to predict which direction he will take in office due to his unpredictable nature as a politician.

A crypto banking platform is what the new project from the Trump family, called World Liberty Financial, aims to be.

The CEO of digital currency company Circle, Jeremy Allaire, stated that cryptocurrency regulation will not be a contentious issue during the current U.S. election cycle, citing Congress' recent backing of the industry.

"Regardless of who wins the presidency, Congress will act, and both sides of the political spectrum are doing good work, as these technologies are crucial for the United States to compete and succeed, according to Allaire's statement on CNBC's "Street Signs Asia.""

According to data from the Federal Election Commission, crypto individuals and firms have contributed more than $190 million to various candidates and PACs before the election, as analyzed by James Delmore and verified by CNBC.

According to Delmore, the spending in this cycle has been more evenly distributed between the two parties compared to previous cycles, but more funds have been directed towards Republican candidates and PACs that opposed Democrats.

The former CEO of BitMEX, Arthur Hayes, rejected the notion that U.S. politics would have any impact on the worldwide crypto markets.

Hayes stated that Bitcoin's value has increased from zero to its current worth without clear regulations or government acceptance, making it irrelevant.

- CNBC's Zenith Wong and MacKenzie Sigalos contributed to this report.