The organization Stand With Crypto has presented data suggesting that the positions on cryptocurrency could determine the outcome of the New Jersey gubernatorial election in 2025.
Crypto Advocates' Positions in New Jersey
According to a March 6 notice, Stand With Crypto stated that roughly 62,000 people had registered in New Jersey, indicating a possible role for crypto-minded voters in the upcoming gubernatorial election. In the last 2021 race, Democrat Phil Murphy defeated Jack Ciattarelli by roughly 84,000 votes, with more than 40% of registered voters turning out.
Cryptocurrency's Influence on US Elections
During the 2024 election cycle, the Political Action Committee (PAC) Fairshake, funded by Ripple and Coinbase, spent approximately $131 million to support candidates who won many seats. The PAC continues fundraising for the 2026 elections, indicating its intention to continue influencing US elections through crypto funding.
Prospects of Upcoming Elections
In New Jersey, Governor Murphy is not eligible to run again after serving two terms. June primaries will determine the candidates for the general election. Nearly half of Stand With Crypto members identify as Independents, making them persuadable in the gubernatorial race.
Cryptocurrencies could play a significant role in the upcoming New Jersey gubernatorial election in 2025. Candidates' stances on cryptocurrencies will be among the key factors for voters.
