Pro-Crypto Candidates Set to Gain Ground in 2024 Elections: Politico

A wave of pro-crypto candidates is reportedly set to enter Congress following substantial campaign support from cryptocurrency super Political Action Committees (PACs).

Coming soon: The most pro-crypto Congress ever https://t.co/2ruMaDPtQ7

— POLITICO Pro (@POLITICOPro) October 22, 2024

According to a Tuesday report by Politico, the crypto industry has spent $160 million through various super PACs to back candidates across party lines in key House and Senate races for the upcoming elections.

Pro-Crypto Candidates for Senate

Rep. Adam Schiff (D-CA) is among the high-profile candidates expected to join the Senate with substantial backing from crypto super PACs.

The report highlighted that $10 million was spent to oppose his Democratic primary opponent, Rep. Katie Porter, who has been critical of the finance industry, including digital assets.

Bernie Moreno’s campaign in Ohio has become a focal point for crypto funding.

Super PACs have funneled over $40 million into supporting his challenge against the incumbent, Senate Banking Chair Sherrod Brown, a critic of the crypto industry.

Meanwhile, Rep. John Curtis (R-UT) is another key figure in the Senate race receiving industry support.

His backing from crypto PACs is seen as part of a broader effort to bolster candidates in states with strong Republican bases who are aligned with pro-digital asset legislation.

Potential Representatives in Congress

Another candidate receiving significant support is Shomari Figures, who won the Democratic primary in Alabama.

Figures, who previously worked in the Biden administration, has positioned himself as a supporter of digital assets despite his past ties to a more cautious regulatory approach.

According to the report, crypto PACs directed $2.6 million to support his campaign, securing his place in the general election for a newly redrawn district.

In Arizona, Yassamin Ansari, a former Phoenix City Council member, benefited from $1.3 million in backing from crypto groups.

Ansari narrowly won a Democratic primary and has voiced support for establishing clear guidelines around digital assets to foster innovation.

Her campaign has been shaped by calls for balancing consumer protection with opportunities for blockchain technology growth.