The recent U.S. elections marked a pivotal moment for the cryptocurrency sector, as over 280 pro-crypto candidates secured seats in Congress. Alongside former President Donald Trump’s re-election, these victories promise to strengthen the influence of the crypto industry on U.S. financial policy.
According to Fox Business, the industry invested over $238 million in campaigns supporting crypto-friendly candidates, signaling a focused push for reforms in Washington
The “Stand With Crypto” Alliance reported that a total of 281 pro-crypto candidates were elected: 263 to the House of Representatives and 18 to the Senate, underscoring the momentum for a pro-crypto legislative agenda.
After the election, Coinbase’s Chief Policy Officer Faryar Shirzad highlighted the growing political influence of “crypto voters” on social media platform X, stating, “Across both parties and in key districts, crypto has won this election.”
He noted that millions of crypto owners cast their ballots to support candidates who champion financial reform and digital assets. Shirzad emphasized that the new Congress, alongside the Trump Administration, is increasingly aware of the rising demand for crypto-friendly policies.
In notable state races, crypto-backed candidates unseated long-standing incumbents. In Ohio, Republican Bernie Moreno defeated Democratic Senator Sherrod Brown, who held his seat for 18 years, with significant support from crypto-related advertising.
Pennsylvania’s Republican Dave McCormick also gained an advantage over Senator Bob Casey, with final results still pending. Additionally, pro-crypto candidates won in Indiana, West Virginia, and Arizona, thanks to contributions from crypto-aligned PACs like Defend American Jobs. However, the industry faced setbacks, as anti-crypto voices such as Massachusetts Senator Elizabeth Warren retained their seats.
Trump’s re-election, coupled with his pro-crypto stance, sent a surge through the crypto market, pushing Bitcoin to record highs and boosting stocks in companies like Coinbase and Microstrategy. Former CFTC Chairman Chris Giancarlo hailed Trump’s victory as a win for American innovation, calling it a “turning point for the return of American imagination and progress.”
The crypto community now sees this election cycle as one of the most significant in its history, with the potential to transform the landscape of U.S. financial policy.
