- Crypto super PACs are investing $12M in Ohio
- The PAC is backing Republican candidate Bernie Moreno against Senate Banking Chair Sherrod Brown
- Protect Progress, a sister PAC, supports Democratic candidates Ruben Gallego and Elissa Slotkin
Super PACs are pouring substantial resources into influencing the 2024 Senate races.
This effort aims to create a balanced foundation for candidates’ victory that is favorable to the digital assets and blockchain industry and could shape future crypto-friendly legislation.
Crypto PAC Backing Republicans in Ohio
The super PAC Defend American Jobs has launched a $12 million campaign to support Republican Bernie Moreno in Ohio, a race that could play a decisive role in the Senate’s future decision-making.
Moreno, known for his pro-crypto stance, is challenging the Senate Banking Chair, Sherrod Brown.
If Moreno prevails, it would likely secure a Republican majority in the Senate and ensure enough pro-crypto figures to advance favorable crypto legislation swiftly.
Crypto PAC Backing Crypto-Friendly Candidates in Arizona and Michigan
The efforts extend beyond Ohio, with the super PAC Protect Progress launching $3 million ad campaigns each in support of Democratic candidates Ruben Gallego in Arizona and Elissa Slotkin in Michigan. Both of these candidates have voted for crypto initiatives in the House of Representatives.
In total, the PAC has gained $160 million in 2024, providing significant resources to support pro-crypto candidates capable of advancing crypto-friendly laws.
A spokesperson for the super PACs, Josh Vlasto, said:
“We are proud of the progress we have seen toward the creation of a sustainable bi-partisan coalition and a consensus that there is an urgent need to pass responsible crypto and blockchain-focused regulation that advances innovation, protects American jobs, and roots out bad actors.”
Conclusion
This indicates that the PAC does not favor any particular party and is not trying to promote one along with its political ideas.
Instead, it focuses on ensuring that the government consists of individuals who are friendly to crypto, regardless of whether they are Republicans or Democrats.
This well-considered and versatile strategy focuses on crypto and ensures the industry wins in any case, laying the foundation for crypto-friendly adoption and regulation initiatives.
