Crypto

Donald Trump Wins, These Pro Crypto Candidates Won In This US Election

6 hours ago
Bitcoin Ethereum News

Donald Trump has finally won the US Presidential Election 2024 beating Kamala Harris by a strong vote margin in both the House and Senate. Crypto voters have played a decisive role in this Presidential race for the US Election 2024 with several pro crypto candidates leading as per the current trends. The crypto donations that came pouring in over the past few months through Super PACs can really play a crucial role in changing the tide of the US crypto industry.

Pro Crypto Candidates to Dominate US Congress?

As per the data from Stand With Crypto, a total of 226 pro crypto candidates have been elected to the House of Representatives against 107 anti-crypto candidates. On the other hand, there are 14 pro crypto candidates in the Senate while 9 anti crypto lawmakers in the Senate. This development also sent the Bitcoin price to an all-time high with the entire crypto market cheering.

As per the Fox News Decision Desk, Republican businessman Bernie Moreno is winning over incumbent Democratic Senator Sherrod Brown in Ohio. This marks a pro-crypto victory while bringing the GOP closer to a Senate majority, reported journalist Eleanor Terret.

Moreno, an outspoken advocate for cryptocurrency, received significant backing from the crypto industry this US election. The pro-crypto super PAC, Defend American Jobs, contributed $40.1 million to his campaign. Speaking on this development, the Super PAC noted:

“Elizabeth Warren ally Sherrod Brown was a top opponent of cryptocurrency and thanks to our efforts, he will be leaving the Senate. Senator-Elect Moreno’s come-from-behind win shows that Ohio voters want a leader who prioritizes innovation, protects American economic interests, and will ensure our nation’s continued technological leadership.”

Along with the support from Super PAC, Moreno’s campaign also raised $54,600 from high-profile crypto industry figures, including Coinbase CEO Brian Armstrong, venture capitalist Marc Andreessen, Ben Horowitz, Chris Dixon, and Fred Ehrsam. These Republicans and other crypto lawmakers shall now work on Donald Trump’s promise to make America the crypto capital of the world.

The Fox News Decision Desk is also projecting that Texas Senator Ted Cruz has secured a third term, defeating Democratic Congressman Colin Allred. Cruz has been a prominent supporter of Bitcoin after securing backing from the Bitcoin Voter PAC, which funded a digital ad campaign similar to the recent one done by crypto exchange Gemini.

In other pro-crypto victories, Democratic Representatives Ritchie Torres and Dan Goldman won their respective races. The pro-crypto super PAC Protect Progress contributed significantly, spending $150,853 to support Goldman and $110,148 for Torres.

However, XRP lawyer Johh Deaton lost the race from Massachusetts to anti-crypto Senator Elizabeth Warren. Around $2.6 million worth of crypto industry money went to supporting Deaton.

Crypto Voter Dominates US Election

Top crypto industry veterans celebrated the US election developments and the winning of several pro crypto candidates. “To everyone who doubted it: the crypto voter is here to stay, loud and clear!” noted Ripple CEO Brad Garlinghouse. Similarly, Coinbase CEO Brian Armstrong wrote:

“Tonight the crypto voter has spoken decisively – across party lines and in key races across the country. Americans disproportionately care about crypto and want clear rules of the road for digital assets. We look forward to working with the new Congress to deliver it”.

On the other hand, Coinbase CLO Paul Grewal had a message for the US SEC stating that the crypto voters clearly voted for a change. “Stop suing crypto. Start talking to crypto. Initiate rulemaking now. There’s no reason to wait,” he added.

✓ Share:

Bhushan Akolkar

Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

Source: https://coingape.com/donald-trump-wins-these-pro-crypto-candidates-won-in-this-us-election/