Over 250 Pro-Crypto Candidates Elected to U.S. Congress

Preliminary results from the U.S. Congressional elections indicate that more than 250 candidates supportive of the cryptocurrency industry have secured seats in the new legislature. This surge in pro-crypto representation is seen as a win for the digital asset sector, with many of these candidates having received significant financial backing from industry leaders.

As reported by FOX Business, the elections were held alongside the presidential race, which was won by Donald Trump. Notably, over $200 million in donations were directed toward pro-crypto candidates, setting a new record for crypto-related political contributions. This substantial financial support highlights the growing influence of the digital asset industry in U.S. politics.

In some cases, pro-crypto candidates have ousted long-serving incumbents. For example, in Ohio, Republican Bernie Moreno defeated Democrat Sherrod Brown, who had held his Senate seat for 18 years. In Pennsylvania, the race between Bitcoin supporter Dave McCormick and Democrat Bob Casey remains too close to call.

Other notable pro-crypto winners include Jim Justice (West Virginia), Jim Banks (Indiana), Kirsten Gillibrand (New York), and Ted Cruz (Texas). The crypto sector's financial backing also helped secure victories in Arizona, California, Colorado, Iowa, Michigan, and Virginia.

Experts point out that most of the newly elected pro-crypto lawmakers are Republicans, a party that has traditionally supported the integration of digital assets into the country’s financial system. Many in the crypto industry are optimistic that with Trump’s victory, the U.S. could enter a "golden age" for digital assets, given his past pro-crypto stance and the backing of influential industry figures.

Prominent Pro-Crypto Politicians

Bernie Moreno

Republican Bernie Moreno made headlines by unseating long-time Senate incumbent Sherrod Brown in Ohio. Moreno, a blockchain entrepreneur and car dealer, is a vocal supporter of cryptocurrencies. He co-founded ChampTitles, a company that simplifies the process of obtaining car titles using blockchain technology. Backed by the political action committee (PAC) Fairshake, which contributed nearly $40 million to his campaign, Moreno’s victory is seen as a major win for the crypto community. His defeat of Brown, a staunch critic of cryptocurrencies, signals a shift in favor of blockchain technology in Washington.

Jim Justice

West Virginia Governor Jim Justice successfully won a Senate seat previously held by Democrat Joe Manchin. Justice, who switched from the Democratic to the Republican Party in 2017, received strong support from the pro-crypto PAC Defend American Jobs, which contributed $3 million to his campaign. Justice has long advocated for the adoption of blockchain and artificial intelligence technologies. His campaign also focused on opposing central bank digital currencies (CBDCs) and advocating for clear regulations that protect American investors while fostering innovation in the digital asset space.

Ted Cruz

Senator Ted Cruz from Texas is one of the most vocal proponents of cryptocurrency in the U.S. Senate. Known for his strong stance against the proposed crypto tax in the 2021 infrastructure bill, Cruz has consistently defended the crypto market and its potential. He has also proposed allowing Washington businesses to accept crypto payments and has spoken out against the creation of a U.S. digital dollar, warning that it could infringe on privacy and lead to greater government control over personal financial transactions.

Crypto’s Growing Influence in U.S. Elections

The cryptocurrency industry’s financial influence in U.S. elections has been growing steadily. In 2024, the sector contributed over $200 million to various political candidates, committees, and organizations. This funding has allowed pro-crypto candidates to gain significant traction, particularly within the Republican Party, which has shown a greater willingness to embrace digital assets.

Trump’s presidential campaign has also received substantial support from crypto industry figures, including Elon Musk, who donated heavily to Trump’s political action committee. Additionally, Vice President Kamala Harris has garnered support from Ripple co-founder Chris Larsen, who contributed $11.7 million to her campaign.

The surge in crypto donations underscores the industry’s growing influence on U.S. politics and its potential to shape future cryptocurrency regulations. As the 2024 election season progresses, both major parties are likely to continue courting the crypto sector, which is eager to see regulatory policies that encourage innovation and protect digital asset investors.