The 47th U.S. presidential election in 2024 has now come to an end. After Trump previously stated his support for cryptocurrency, he immediately gained support from crypto industry players. At the same time, many candidates who support cryptocurrency have won a majority of congressional seats, becoming a highlight in U.S. politics.
According to data from Stand With Crypto (SWC), an advocacy group for cryptocurrency exchange Coinbase, 261 pro-cryptocurrency candidates for the House of Representatives and 17 for the Senate have been successfully elected.
Many states elect pro-encryption officials to advance to Congress, with a few exceptions
SWC shows that with the exception of New Mexico, Alaska, Hawaii, Vermont and Maine, most states have elected at least one pro-cryptocurrency candidate. The latest data shows that 261 candidates supporting cryptocurrency have been elected in the House of Representatives, compared with only 116 opponents; in the Senate, 17 candidates supporting and 12 opposing cryptocurrency have been elected, showing that cryptocurrencies Advantages for Monetary Backers.
The House of Representatives is on the left, and the Senate is on the right. Crypto industry and the community have donated a total of US$200 million, which has achieved significant results.
According to SWC, the cryptocurrency community donated a total of more than $200 million in political donations during this election, of which approximately $204 million was invested in the pro-cryptocurrency super political action committee (PAC) Fairshake, and another $3 million was invested in Donate to SWC.
One of Fairshake's focuses this time around is assisting pro-crypto Republican candidate Bernie Moreno in his successful victory over Democratic incumbent Sen. Sherrod Brown in Ohio, a campaign that cost more than $500 million, making it one of the most expensive elections ever. Fairshake has invested US$40 million in this effort and has received strong support from crypto industry players Coinbase, Ripple Labs and the founders of venture capital firm a16z.
Crypto-friendly Moreno wins, anti-crypto Brown loses, coincidence
Moreno ultimately won with a 50.2% majority, taking 2.8 million votes, while Brown received about 46.4% of the vote, not only bringing a pro-crypto senator to the Senate, but also removing an anti-crypto congressman.
Brown has a close relationship with Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), and Gensler has also continued to carry out regulatory actions against the encryption industry in the United States in recent years. Brown's departure seems to have increased the influence of cryptocurrency to some extent, which is indeed an interesting fact. coincide.
Source: SWC Pro-crypto candidates lead in other states too
In addition to Ohio, pro-encryption Senate candidates are currently leading in states such as Montana, Pennsylvania, and Wisconsin. Montana's Tim Sheehy led opponent Jon Tester's 205,000 votes with 247,000 votes. SWC rates Sheehy as pro-crypto, while Tester is listed as neutral.
Source : SWC
The battle in Pennsylvania, a key swing state, is currently in a stalemate (as of 12:00 noon on November 6, Taiwan time), with pro-cryptocurrency Dave McCormick and neutral Bob Casey both receiving about 3 million votes. It was a similar story in Wisconsin, where anti-crypto incumbent Tammy Baldwin and pro-crypto candidate Eric Hovde each received about 1.6 million votes, but Baldwin won.
On the left is McCormick vs Casey.Jr, on the right is Baldwin vs Hovde
Massachusetts Senator Warren defeats crypto supporter Deaton, maintains anti-crypto stance
Although cryptocurrency supporters won many victories in this election, they were not immune to defeats. In Massachusetts, anti-crypto Democratic Senator Elizabeth Warren defeated cryptocurrency supporter John Deaton by a clear margin.
Warren has always been strongly opposed to cryptocurrencies, and Deaton is not only a supporter of cryptocurrencies, but has also acted as a lawyer to represent Ripple (XRP) holders in lawsuits with the U.S. Securities and Exchange Commission (SEC). Due to Trump's support for cryptocurrency, which has led to the assistance of crypto industry and related supporters, the results of this election have given rise to a cryptocurrency force that cannot be ignored in the U.S. political arena. However, in the end, how "regulatory regulations" will affect the direction of the industry will be determined. is the point.
This article The U.S. presidential election helped the rise of encryption forces in the political arena. Coinbase reported a total donation of more than 200 million US dollars. First appeared on Chain News ABMedia.
