While none of the big three crypto super political action committees (PACs) — Fairshake, Protect Progress and Defend American Jobs — donated to a US presidential candidate, they did support several congressional efforts.
The crypto industry is largely responsible for the many new faces that will be heading to Washington DC in January as election results are still being announced.
Jim Justice
West Virginia Governor Jim Justice won the US Senate open seat in West Virginia on Tuesday, beating Democratic candidate Glenn Elliot by about 68%.
Justice has spent more than 3 million dollars to defend American jobs. The senator-elect said that he is in favor of a cryptocurrency market structure which allows innovation and protects investors.
Julie Johnson
Johnson, Texas State Representative, beat Republican Darrell Day Tuesday in the 32nd US House district of Texas.
Protect Progress, the Democratic initiative in Fairshake Super PAC’s trio, spent nearly $1 million to support Johnson.
Johnson wrote on her website during the election campaign that she supports crypto and hopes to see it grow. “establish clear rules of the road for the crypto industry to build technology that benefits everyday Americans.”
Bernie Moreno
In a tight race on Tuesday, Republican Bernie Moreno defeated incumbent US Senator Sherrod brown by a small margin. He won 50.2%.
Brown is a member of the Senate Banking Committee and has been regarded by crypto enthusiasts as a rival. Brown voted against a resolution to repeal the US Securities and Exchange Commission’s SAB 121 Accounting Guidance, which was passed by both chambers of Congress with bipartisan approval before being vetoed in the end by President Biden.
Federal records show that through October 31, Defend Americans Jobs had spent $34,000,000 to help Moreno.
Adam Schiff
Adam Schiff, a Democrat US representative will join the Senate as early next year. He has defeated Steve Garvey, a Republican opponent by 57% to 40%.
The crypto industry supported Schiff during his Democratic Primary after Fairshake, a crypto super-PAC, spent over $10 million against Rep. Katie Porter.
Stand With Crypto gave Schiff its highest rating of A, despite his, and Sen. Brown’s, refusal to vote for the House resolution that sought the overturning the SEC SAB 121 guidance. He did, however vote for the Financial Innovation and Technology for the 21st Century Act.
John Curtis
John Curtis is not new to Capitol Hill either, though he will soon be moving from the House of Representatives to the Senate. Rep. Curtis won the Utah seat Mitt Mitt Romney left vacant by defeating Caroline Gleich.
Curtis received $1.9M from the Defend American Jobs PAC as part of Fairshake Super PAC. That’s almost 35%. Curtis has co-sponsored both the FIT21 legislation and Anti-CBDC Surveillance Act during this House session.
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