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However, it’s important to note that cryptocurrency PACs were largely going with a “back the winners” strategy in this cycle — exemplified by their spending on candidates like Jim Justice (R, WV Senate) and John Curtis (R, UT Senate), who were all but assured to win their races, and whose races were called moments after polls closed. Although it took a while for me to realize this — there were times when I wondered why the crypto PACs were supporting some candidate when their opponent seemed roughly equivalent in their crypto-related stances — the strategy later became clear. As I noted in an earlier issue [I68], a whopping 32 of the 39 candidates endorsed by Coinbase’s advocacy group Stand With Crypto had been assigned a 75% or more chance of winning their respective races. Graph of 39 Congressional candidates, showing them plotted on a vertical axis of 0% to 100% likelihood of winning. Almost all are in the top portion of the graph.