cryptojournalist
GOP Secures Senate, but Crypto-Heavy Races Remain Tight
The Republicans have clinched control of the Senate for 2025, yet two key races with major crypto backing are still in suspense. In Arizona, Republican Kari Lake is slightly behind Democrat Ruben Gallego. Lake is pro-crypto and has aligned herself with Donald Trump’s policies on digital assets. But despite her stance, she hasn’t received much support from crypto-focused PACs.
Crypto Money Flows to Gallego in Arizona
Gallego, currently in the lead with 77% of votes counted, has enjoyed strong support from the crypto world. The Fairshake PAC and its allies have invested over $10 million in his campaign. As a current representative for Arizona, Gallego has shown he’s open to innovation in crypto, even backing legislation like the Financial Innovation and Technology Act to encourage growth in the sector.
Nevada’s Tight Race, Crypto Leaders Boost Republican Candidate
Meanwhile, in Nevada, Republican Sam Brown is running a close race against Democrat Jacky Rosen, with about 96% of the vote counted. Although crypto PACs haven’t stepped in to support him, Brown has received direct contributions from big names in the industry, like the Winklevoss twins from Gemini, Ripple’s legal head Stuart Alderoty, and Coinbase co-founder Fred Ehrsam.
Mixed Results for Crypto in the 2024 Election
The crypto industry threw serious money at the 2024 election—over $130 million—but results were mixed. Notably, pro-crypto candidate John Deaton lost his Senate race in Massachusetts to Elizabeth Warren, a well-known crypto skeptic. Still, crypto markets responded to election results with a price bump, with Bitcoin and other tokens rallying after November 6.
