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Ted Cruz, representing Texas in the US Senate since 2013, has received millions in support from the crypto industry but is still at risk of losing his seat to Colin Allred.
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With 11 days until the US Election and Texans already going to the polls for early voting, crypto political action committees (PACs) have reported final expenditures supporting Republican Senator Ted Cruz for reelection.
As of Oct. 24, filings with the Federal Election Commission (FEC) showed the Bitcoin Voter PAC spent roughly $30,000 on digital advertising to support Cruz in the 2024 election.
The PAC, which reported receiving $65,000 from the Bitcoin Voter Project — an organization formed by mining executives claiming to seek to educate voters on Bitcoin (BTC) — has released ad spots encouraging voters to support Republican presidential candidate Donald Trump and Pennsylvania Senate candidate Dave McCormick.
The expenditures come as many polls show Cruz within the margin of error with Democratic Senate candidate Colin Allred. The Texas Secretary of State reported that since the polls opened on Oct. 21, roughly 15.1% of registered voters in the state cast their ballots — more than 2.8 million people.
Neither candidate seems to be ‘anti-crypto’
Cruz, who has spoken at many crypto conferences in favor of loosening restrictions on BTC miners operating in Texas, claimed to support the industry “to generate new jobs, encourage entrepreneurship, hedge against inflation, and present new opportunities.”
Though many of Cruz’s supporters in the space have suggested Allred was not opposed to digital assets or blockchain technology, they seem to favor the Texas senator for his outspoken views.
Allred, in his role as the Representative of Texas’ 32nd Congressional District, voted in favor of the Financial Innovation and Technology for the 21st Century Act but has also publicly associated cryptocurrencies with the funding of terrorist groups.
“Ted Cruz has been a Bitcoin champion for a very long time and protecting his seat is a top priority,” Jayson Browder, MARA senior vice president of government affairs and social responsibility, speaking on behalf of the Bitcoin Voter Project, told Cointelegraph. He continued:
“With Pennsylvania being the state that the entire nation is focused on, we know for a fact that we can turnout Bitcoin voters who will support our Bitcoin champions at the top of the ticket and in the US Senate race.”
Related: US lawmaker claims crypto PACs forced out ’important voices in Congress’
The Bitcoin Voter PAC ad, released the day early voting began in Texas, wasn’t Cruz’s only support from the industry.
FEC records showed the Bitcoin Freedom PAC — a group suggesting Democratic victories in 2024 would stymie pro-Bitcoin legislation and regulation — contributed $350,000 to the Truth and Courage PAC, a committee explicitly supporting Cruz’s reelection.
Industry leaders, including Coinbase CEO Brian Armstrong and Gemini co-founders Cameron and Tyler Winklevoss, have each contributed the maximum allowable amount of $3,300 directly to Cruz’s campaign.
Ripple co-founder Chris Larsen, who has contributed $11 million in XRP to a Super PAC supporting Democratic presidential candidate Kamala Harris, sent $3,300 to Allred’s campaign.
PACs like Fairshake and its affiliates Defend American Jobs and Protect Progress have disbursed millions of dollars into media buys opposing or supporting candidates across party lines in the 2024 election cycle.
Julie Johnson, a Democrat who hopes to replace Allred as the Representative for Texas’ 32nd Congressional District, received roughly $1 million in support through media buys from Protect Progress. Other PACs, like the Commonwealth United Fund, have accepted contributions from industry leaders to support Republican John Deaton’s bid to unseat Senator Elizabeth Warren in Massachusetts.
Texas was the focus of both Democratic and Republican presidential candidates on Oct. 25 as Vice President Harris and Trump attended different campaign events. Trump will reportedly appear on comedian Joe Rogan’s podcast in Austin, while Harris’ campaign will host a rally in Houston featuring Beyoncé and Willie Nelson.
Magazine: Crypto voters are already disrupting the 2024 election — and it’s set to continue
This article first appeared at Cointelegraph.com News
