NewsletterAnti-Crypto Jamaal Bowman’s NY 16th Election Loss Shows What’s Coming in 2024 US Elections
Highlights
- Bowman's defeat highlights the increasing importance of pro-crypto sentiment among candidates.
- Bowman has opposed key crypto legislation, including voting against the anti-CBDC bill, the FIT 21 bill.
- Crypto super PAC Fairshake spent $2 million in ads for candidate standing against Bowman.
The race for the 2024 US elections has been heating up with a key development putting a clear message that the anti-crypto stand won’t benefit any lawmaker. On Tuesday, June 25, crypto critic Jamaal Bowman, who voted against the FIT 21 bill lost an election of New York’s 16th Democratic Primary.
2024 US Elections Has No Place for Anit-Crypto Lawmakers
Jamaal Bowman was popular for his anti-crypto stand on not one occasion, but several past instances. He holds a notable record of opposing key crypto legislations such as voting against the anti-CBDC bill, the FIT 21 bill, as well as voting against efforts to overturn the pro-Gary Gensler SAB 121. Besides, Bowman has been a top ally of Senator Elizabeth Warren, who has consistently been anti-crypto. Well, the current development gives an insight into what’s coming ahead during the 2024 US elections.
The interesting thing is that Bowman has lost to Westchester County Executive George Latimer. Fairshake, the pro-crypto super PAC was behind the $2 million ad-spent opposing Bowman last week. Speaking to Fox Business’ Eleanor Terret, Fairshake spokesman Josh Vlasto said:
“Jamaal Bowman fought against setting clear rules of the road for the crypto and blockchain industry, and tonight he’s looking for a new job. The crypto and blockchain community will continue to support candidates who believe in innovation and job creation, and reach across the aisle to get things done.”
Crypto super PACs have been very active recently in order to support pro-crypto candidates for the upcoming US elections this year. They have reportedly built a war chest of $100 million to advertise for pro-crypto candidates. These PACs have also received massive investments from top crypto industry players like Coinbase and Ripple.
Also Read: Coinbase Follows Ripple & a16z With $25M Donation To Fairshake Crypto PAC
Crypto Industry Players Cheer the Development
Ad tracking firm AdImpact reported that the race between Bowman and Westchester County Executive George Latimer drew a staggering $25 million in ad spent. However, nearly $15 million of it has come from the United Democracy Project, a super PAC associated with the American Israel Public Affairs Committee.
Well, the development has irked Bowman’s close supporter Alexandria Ocasio-Cortez (AOC) calling this $15 million spent by the super PAC as “corruption” and a “threat to American democracy”. However, crypto industry players are cheering the development passing on the message that the fight with the crypto market won’t end well.
Politicians everywhere need to understand that this is what happens when you pick a fight with the crypto army. https://t.co/RLCA6VKM4B
— Tyler Winklevoss (@tyler) June 26, 2024
Also Read: Winklevoss Twins Donate Bitcoin to Donald Trump Campaign
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