The recent US elections marked a significant success for the crypto industry, with 261 pro-crypto candidates elected to the House of Representatives.
Crypto Industry's Political Influence
According to data from Stand With Crypto (SWC), 261 pro-crypto candidates were elected to the House of Representatives, compared to 116 anti-crypto candidates. In the Senate, 17 supporters were elected, compared to 12 opponents. SWC reports that the industry contributed over $200 million to political campaigns, supporting key races across the nation.
Key Crypto Allies Elected
Among the elected pro-crypto politicians are Democratic Senator Kirsten Gillibrand of New York and Republican Senator Ted Cruz of Texas, who have been recognized for pushing forward pro-crypto legislation.
The Role of Donald Trump in the Election
Donald Trump's 2024 campaign saw notable crypto support. Trump has expressed intentions to stockpile Bitcoin as a strategic reserve and to support crypto initiatives.
The political victories of crypto advocates may lead to more initiatives focused on creating clearer regulatory frameworks that promote innovation and limit restrictive measures.
