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As for the Congressional races, the crypto-focused super PACs spent in 68 races across 35 states. $70.9 million went to support Republicans, and $48.3 million backed Democrats. Only ten races failed to go their way (eight if you exclude two races where candidates they backed in the primaries withdrew — and in both of those two races, the crypto PACs chose new candidates to support who went on to win). 58 races went how they wanted them to go, with either their supported candidate winning the election, or candidates they spent to oppose losing. The remaining two races — California’s House District 45 and Alaska’s House At-Large District — have still not been called, as of writing. Certainly, some of their success comes down to the PACs’ willingness to shell out massive amounts of money. The crypto PACs put $40 million behind Ohio’s Republican Senatorial candidate, car salesman and one-time blockchain entrepreneur Bernie Moreno, and the tight margins in his race against Democratic incumbent and crypto opponent Sherrod Brown means that it’s possible that it was the crypto spending that made the difference.

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  1. Embed this notice
    Molly White (molly0xfff@hachyderm.io)'s status on Saturday, 16-Nov-2024 08:57:00 JST Molly White Molly White
    in reply to

    Crypto-focused super PACs spent in 68 races across 35 states. $70.9 million went to support Republicans, and $48.3 million backed Democrats.

    While some of the outcomes may have their spending to thank, much of this was a “back-the-winners” strategy.

    #crypto #cryptocurrency #USpolitics #USpol

    In conversation about 6 months ago from hachyderm.io permalink
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