The 2024 U.S. elections have seen hundreds of pro-crypto candidates elected as results continue to pour in from across the nation.
At this point, data from Coinbase's Stand With Crypto (SWC) website shows that pro-crypto officials have been elected in most states. According to the website's map, only New Mexico, Alaska, Hawaii, Vermont, and Maine have not elected a pro-crypto candidate.
The purple states have elected pro-crypto candidates. Source: Stand With Crypto.
Data from SWC shows that 247 pro-crypto candidates were elected to the House of Representatives, compared to 113 officials opposing cryptocurrency. In the Senate, 15 pro-crypto candidates were elected, while 10 candidates opposing cryptocurrency won seats.
Over $200 million in cryptocurrency donations yield results.
Cryptocurrency advocates have contributed about $206 million to election campaigns, according to SWC. Of this, about $204 million went to Fairshake, a super pro-crypto political action committee, while nearly $3 million was donated to SWC itself.
On November 6, pro-crypto Republican candidate Bernie Moreno won the Ohio Senate seat from incumbent Democratic Senator Sherrod Brown. The showdown between Brown and Moreno was one of the most expensive campaign advertising contests, with over $500 million spent.
Fairshake spent $40 million to help Moreno defeat Brown in one of their priority battles. Key donors include Coinbase, Ripple Labs, and founders Andreessen Horowitz.
Bernie Moreno won the Ohio Senate seat. Source: Stand With Crypto.
Moreno won with over 2.8 million votes, equivalent to 50.2% of the total, while Brown received 2.5 million votes, equivalent to 46.4%.
This victory adds a pro-crypto politician to the Senate and removes an anti-crypto voice. Brown has a close relationship with the Chairman of the U.S. Securities and Exchange Commission, Gary Gensler, who has led legal crackdowns on cryptocurrency businesses in the U.S.
Not only did they win the Ohio Senate seat, but pro-crypto candidates are also leading in other important Senate races in the U.S. elections.
In Montana, Tim Sheehy defeated Jon Tester with over 247K votes compared to 205K for Tester. Sheehy supports cryptocurrency, while Tester was rated neutral by SWC.
In Pennsylvania, the race between Dave McCormick and Bob Casey was very close, with each candidate receiving about 3.2 million votes. McCormick supports cryptocurrency, while Casey is rated neutral.
In Wisconsin, the race between Tammy Baldwin and Eric Hovde was also very fierce, with each candidate receiving about 1.6 million votes. Baldwin is "strongly opposed to cryptocurrency," while Hovde has expressed some support for the industry.
Warren defeated Deaton in the Massachusetts Senate race.
Although the elections yielded some favorable results for cryptocurrency, not all pro-crypto candidates were victorious. In Massachusetts, Democratic Senator Elizabeth Warren won decisively against pro-crypto candidate John Deaton.
Warren is one of the most prominent critics of cryptocurrency in U.S. politics, while Deaton is a well-known cryptocurrency advocate who has represented XRP investors in the legal battle with the SEC.
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