President Joe Biden’s re-election campaign has begun reaching out to key figures in the cryptocurrency industry, seeking guidance on "crypto community and crypto policy moving forward," according to sources with direct knowledge of the matter. This outreach marks a significant "shift" from the administration’s previously chilly stance toward the industry, sources told The Block.

The engagement effort, which started about two weeks ago, signals a dramatic change in the Biden campaign’s approach to digital asset leaders, the sources said, speaking on the condition of anonymity due to the sensitivity of the discussions. As part of this new initiative, Biden’s re-election team has called crypto industry leaders who had previously been rebuffed by the Democratic candidate, one source reported.