Donald Trump appears poised to win the 2024 US presidential election. The New York Times forecasts that Trump is likely to secure 306 electoral college votes, giving him a greater than 95% probability of victory. But aside from Trump, pro-crypto candidates have secured major victories.
Stand With Crypto, a grassroots advocacy group dedicated to empowering crypto users and supporters, announced via X that voters have elected a majority of pro-crypto candidates to the U.S. House of Representatives. They stated, “Voters have elected a majority of pro-crypto candidates to the US House of Representatives, even with many more seats still left to be called. The next Congress will be the most pro-crypto ever.”
As of press time, the election results indicate a strong pro-crypto sentiment among the newly elected officials. In the House of Representatives, 224 pro-crypto candidates were elected compared to 106 anti-crypto candidates. The Senate also reflected this trend, with 14 pro-crypto candidates elected against 9 anti-crypto candidates.
Crypto Scores Big In US Elections
Industry leaders expressed optimism about this shift. Hunter Horsley, CEO of Bitwise Asset Management, remarked that “headwinds are about to become tailwinds,” suggesting that 2024 could mark “the start of the mainstream era” for cryptocurrency. Mike Alfred, Founder and Managing Partner of Alpine Fox LP, highlighted the strategic implications of the Republicans taking the Senate.
“BREAKING: FOX projects the Republicans have taken the Senate. This means the Senate Banking Committee will be remade by Tim Scott and Cynthia Lummis for pro-Bitcoin policy. Huge,” Alfred writes via X.
Several key Republican politicians have secured victories over their Democratic opponents, signaling potential support for crypto initiatives. Tim Scott, Senator from South Carolina, is poised to replace Elizabeth Warren as head of the Senate Banking Committee. Wayne Vaughan commented that this change opens the door to investigate and uncover the truth behind “Operation Chokepoint 2.0.
Miles Deutscher emphasized the significance of these results by stating that, aside from Trump’s impact, “this is the biggest news for crypto today,” declaring “NO MORE CHOKEPOINT!”
Notably, Senator Cynthia Lummis of Wyoming, a well-known Bitcoin and crypto advocate, recently proposed the BITCOIN Act. This legislation aims to establish a strategic Bitcoin reserve to bolster America’s balance sheet and ensure transparent management of the federal government’s Bitcoin holdings.
Another significant victory comes from Ohio, where crypto entrepreneur Bernie Moreno unseated Senator Sherrod Brown, a leading figure in the anti-crypto agenda and one of the Democratic Party’s longest-serving members. Perianne Boring, founder and CEO of the Digital Chamber, stated via X:
“Huge! Cryptocurrency entrepreneur Bernie Moreno has unseated Sen. Sherrod Brown, a top figure in the anti-crypto agenda and one of the Democratic Party’s longest-serving members. This historic race, the most expensive Senate contest in US history with over $500 million spent, reflects a major shift powered by the rising Crypto Voter Bloc— crypto is winning!”
Cameron Winklevoss reacted to Moreno’s victory by remarking, “Elizabeth Warren henchman Sherrod Brown has been defeated by Bernie Moreno for Ohio Senate. This is what happens when you mess with the crypto army.” His brother Tyler added, “The crypto army is striking! Sherrod Brown — crypto public enemy, Elizabeth Warren co-conspirator, and Gary Gensler crony — was just ousted by Bernie Moreno for Ohio Senate.”
Ripple CEO Brad Garlinghouse expressed his enthusiasm, stating: “To everyone who doubted it: the crypto voter is here to stay, loud and clear! Truly amazing to see crypto champions like Bernie Moreno, Ritchie Torres, Sen. Kirsten Gillibrand and Congressman Andy Barr get the W with this election.”
At press time, Bitcoin traded at $74,374.
