- Over 247 pro-crypto candidates were elected to the House, along with 15 in the Senate.
- Key victories included pro-crypto Republican Bernie Moreno defeating incumbent Sherrod Brown in Ohio.
- Crypto advocates contributed over $200 million to campaigns, securing wins in several critical races.
The 2024 U.S. elections have ushered in a significant number of pro-crypto candidates to Congress, with results indicating a growing alignment between cryptocurrency interests and political representation. Data from Coinbase’s Stand With Crypto (SWC) platform shows that 247 pro-crypto officials secured seats in the House of Representatives, while 15 gained seats in the Senate. States like Ohio saw pivotal wins for the crypto sector, as more pro-crypto candidates were elected across the nation.
Source: Stand With Crypto
Major Wins in Key Races
Among the most notable victories was Ohio’s Senate race, where pro-crypto Republican Bernie Moreno defeated incumbent Democrat Sherrod Brown. This tightly contested election, marked by high advertising costs exceeding $500 million, saw Fairshake—a pro-crypto super PAC—invest $40 million to support Moreno. His win introduces a new pro-crypto stance to the Senate while removing an anti-crypto voice; Brown has been an ally of SEC Chair Gary Gensler, known for regulatory actions against crypto firms.
In Montana, pro-crypto candidate Tim Sheehy holds a lead against Jon Tester, while Pennsylvania’s Senate race between Dave McCormick and Bob Casey remains extremely close, with both candidates polling near 3.2 million votes. Pro-crypto McCormick faces neutral-rated Casey. Meanwhile, Wisconsin’s race between Tammy Baldwin, a crypto opponent, and Eric Hovde, who has shown some support for the industry, is also tightly contested.
Industry-Backed Support and Campaign Influence
The crypto sector invested around $206 million in election-related donations, with the majority directed to Fairshake and SWC. This investment coincides with a shift in congressional representation, with most states now including at least one pro-crypto elected official. While pro-crypto candidates saw widespread success, some prominent crypto advocates did not prevail, including Massachusetts’ John Deaton, who lost to crypto critic Senator Elizabeth Warren.
