Crypto’s $135 Million Campaign Is Undefeated in 48 Races So Far

The cryptocurrency industry spent about $135 million in the 2024 election cycle to back more than 50 candidates, including Democrats and Republicans, incumbents and challengers, shoo-ins and longshots.

But they all now share something in common: Victory.

In the Nov. 5 races, 48 out of 48 candidates backed by crypto’s biggest political action committees were declared winners as of Friday morning. In eight races where votes are still being counted, the PACs’ preferred candidate is ahead in all but three.

Crypto made its biggest bet in Ohio, where it spent more than $40 million to lift Republican Bernie Moreno in his bid ...