American politics has historically been partisan, but crypto could bring new changes. As the midterm election approaches, digital asset firms and organizations are ramping up their lobbying machinery, heavily betting on pro-crypto candidates who could potentially bring favorable policies to the industry. The Financial Freedom PAC promises to create an “orange wave” in Washington by 2024.
The Orange Wave May launch from Ohio & Oregon
In the Ohio primary, he was Bitcoin-Proponent Josh Mandel the only one of the four candidates backed by the Financial Freedom PAC, a political action committee funded primarily by FTX CEO Sam Bankman-Fried (SBF). The organization is dedicated to campaigning for pro-crypto political candidates and bringing them to Washington.
However, Mandel lost the bid to JD Vince — another “bitcoiner” backed by billionaire bitcoin bull Peter Thiel, who donated $3.5 million to the Protect Ohio Values Super PAC, Bloomberg reported April 20 . The GOP candidate is reportedly holding around 6.5 BTC at the time of writing.
Alongside Mandel, Rep. Shontel Brown has also received support from the Financial Freedom PAC, leading to heavy criticism from her progressive challenger Nina Turner, who claimed Brown put Cleveland up for sale.
You see, there is a definite difference in this race. One of the candidates in this primary is up for sale.
I am not for sale.
Cleveland is not for sale. https://t.co/frtwzZtIEL
— Nina Turner (@ninaturner) April 15, 2022
Oregon is another battleground the group has invested massively in — they’ve spent over $7 million trying to get Democratic nominee Carrick Flynn elected congressman for the 6th district. The organization, which supports both Democratic and Republican candidates, claims “we, as an industry, are not shy about speaking out and supporting what we value, and that includes political giving.”
The goal is 2024
The Financial Freedom PAC’s ambition extends well beyond the midterm election. One of the group’s founders, Grant McCarty, has set the target for the upcoming election, saying that “putting a Bitcoin proponent into Congress in November” is enough to be considered an asset to the industry, as he already has the elections in 2024 in mind.
McCarty believed that pro-crypto sentiment would soon be adopted in Washington in the years to come, noting, “I really think we’re going to see an orange wave in Washington in 2024.”
Source: Crypto News Deutsch