A political action committee (PAC) supported by executives from cryptocurrency mining firms has launched advertisements in favor of Republican candidates as early voting kicks off for the upcoming U.S. election. On October 21, the Bitcoin Voter PAC, through a post on X, took credit for releasing an ad endorsing Texas Senator Ted Cruz. The ad promotes Cruzâs understanding of Bitcoin but makes no mention of his opponent, Colin Allredâs policies.
Ted Cruz is known for his support of the crypto industry. Last year, the senator introduced a bill that restricts the Fed from developing a Central Bank Digital Currency (CBDC).
The Bitcoin Voter Project, founded in June, is made up of board members from prominent crypto mining firms like Marathon Digital Holdings, CleanSpark, and Riot Platforms. Their goal is to influence key elections and identify potential pro-crypto voters.
Despite their recent activity, records from the Federal Election Commission reveal that the PAC has not filed any contributions or expenditures in the 2024 election as of September 30.
Community Divided as Early Voting Begins
As early voting started in Texas on October 21, voters face a choice between Cruz, a long-time senator since 2013, and Allred, a congressman representing Texasâ 32nd District since 2019. Polls from October suggest that Cruz holds a slight edge over Allred in the race. Additionally, the PAC funded an ad in Pennsylvania supporting former President Donald Trump.
Back in August, the Texas Blockchain Council (TBC), a major crypto advocacy group, endorsed Cruz for his stance on Bitcoin and mining. TBC President Lee Bratcher praised Cruzâs efforts, saying he viewed Bitcoin as a tool for freedom and mining as a means to stabilize Texasâ power grid.
Cryptoâs Political Influence in Texas
Despite some support for Allredâs pro-crypto stance, Bratcher clarified that the TBC had chosen to endorse Cruz due to his unapologetic backing of digital asset policies. He also pointed out that, while Allred may be favorable toward the industry, the advocacy group had not made many other endorsements because crypto has not played a significant role in most races.
Texas has become a critical hub for crypto activity in the U.S., home to major mining firms like Riot Platforms and Core Scientific. It has also seen an influx of legal battles involving crypto companies. Many of these firms are now eyeing Texas as a favorable venue for litigation against federal regulators like the Securities and Exchange Commission (SEC).
The post Bitcoin Voter PAC Launches Ad for Texas Senator Ted Cruz in U.S. Elections appeared first on TheCoinrise.com.
