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Bull run in sight? Cryptocurrencies to Watch with 250+ Pro-Crypto People in US Congress
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The United States presidential election did not just feature Donald Trump’s return to the presidency. In fact, the biggest benefit for the US cryptocurrency industry was the congressional election (House and Senate), in which 250 pro-cryptocurrency candidates will be present from 2025 onwards.
Therefore, the 2024 election was historic in many ways. Trump has already adopted a stance in favor of the market and more flexible laws, and he will have a majority in both the House and the Senate. And with a “crypto bench” at your side, these advances can occur in the first years of your term.
This means several cryptocurrencies can benefit, from Artificial Intelligence (AI) tokens like Render, to pre-sale tokens like Pepe Unchained, Flockerz and FreeDum Fighters. See now a summary of the election of pro-cryptocurrency parliamentarians in the USA.
In total, the cryptocurrency industry invested more than $200 million in this year’s campaign. Most of it consisted of donations to pro-cryptocurrency candidates in House and Senate races, but not in the presidential election. And this “investment in Congress” had excellent returns.
It was worth the investment
For example, Senate candidate Bernie Moreno, from the Republican party, was one of these bets. Running for Ohio, Moreno beat Sherrod Brown, who was a Democratic senator. In addition to marking a breakthrough for cryptocurrencies, Moreno became the first Republican senator elected from the state since 2006.
Another dispute, still open, takes place in Pennsylvania, one of the states that gave Trump victory. There, Republican candidate Dave McCormick is leading the race against Democratic Senator Bob Casey. Like Moreno, McCormick is very supportive of the cryptocurrency sector, especially Bitcoin (BTC).
A body that was very important in this campaign was Defend American Jobs (DAJ), which was pro-cryptocurrencies from the beginning. That fund donated more than $40 million in ads supporting Moreno. The fund’s policy is to defend smaller cryptocurrencies such as Ethereum (ETH) and AI names such as RENDER tokens.
Democratic Senator Kirsten Gillibrand of New York and Republican Senator Ted Cruz of Texas, both strong supporters of cryptocurrencies, also won their races handily. Cruz was one of the biggest supporters of ETH and other tokens such as EtherVista.
But the industry’s deep pockets were not enough to convince Massachusetts voters to unseat their anti-crypto senator, Elizabeth Warren, who was reelected to a third term. Warren is one of the biggest opponents of cryptocurrencies in the US Senate.
Trump embraced cryptocurrencies on the campaign trail, including promising to fire SEC Chairman Gary Gensler, who has filed more than 100 lawsuits against various cryptocurrency companies. Gensler even attacked tokens like SUI and Dogwifhat (WIF), accusing them of being under the purview of the SEC.
Bull run in sight? Cryptocurrencies to Watch with 250+ Pro-Crypto People in US Congress
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Bull run in sight? Cryptocurrencies to Watch with 250+ Pro-Crypto People in US Congress
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Bull run in sight? Cryptocurrencies to Watch with 250+ Pro-Crypto People in US Congress
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Bull run in sight? Cryptocurrencies to Watch with 250+ Pro-Crypto People in US Congress
