The crypto industry is becoming a significant player in elections, currently outspending efforts for Democrats by 62% on ad campaigns supporting Republican candidates, particularly in key races.
With over $40 million funneled into the Ohio Senate race supporting GOP candidate Bernie Moreno, the crypto sector demonstrates preference for Republican candidates targeting Democrats critical of their industry.
Fairshake, the industry's main PAC, is equally endorsing candidates from both parties, yet their ad spending shows a strong bias towards Republicans, indicating a strategic political alignment.
The rush of ad spending from crypto PACs could influence pivotal races in the upcoming election, highlighting the rising power of crypto in U.S. politics during critical moments.
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