The recent US elections marked significant victories for crypto supporters, who secured seats in Congress. This success was facilitated by active backing and financial contributions from the crypto industry.
Crypto Industry's Political Influence
According to data from Stand With Crypto, 261 pro-crypto candidates won seats in the House of Representatives, compared to 116 opponents. In the Senate, 17 crypto supporters were elected. Notably, the industry contributed over $200 million to political campaigns, supporting races nationwide.
Key Crypto Allies Elected
Among prominent pro-crypto figures are Democratic Senator Kirsten Gillibrand from New York and Republican Ted Cruz from Texas, both re-elected with strong support, known for their efforts in advancing crypto legislation.
The Role of Donald Trump in the Election
Donald Trump's 2024 re-election campaign prominently supported crypto, accepting bitcoin donations. At the Nashville conference, Trump reaffirmed plans to use bitcoin as a strategic reserve and replace the SEC chairman.
The victory of crypto advocates could lead to the development of a clearer regulatory framework that fosters innovation without inhibiting growth.
