Jamaal Bowman, a member of the House of Representatives from New York’s 16th congressional district, lost
Jamaal Bowman, a member of the House of Representatives from New York’s 16th Congressional District, lost the Democratic primary, which could have allowed him to retain his seat in 2025.
According to a June 26 NBC News projection, Democratic challenger George Latimer will beat Rep. Bowman approximately 58% to 42%, with 84% of the vote reported at press time. Fairshake’s political action committee (PAC) spent more than $2 million on a media campaign opposing Bowman’s re-election — attacking not his voting record against pro-crypto bills, but allegations of “promoting dangerous conspiracy theories.”
In Congress, Rep. Bowman voted against the Financial Innovation and Technology for the 21st Century (FIT21) Act, the Central Banking and Development (CBDC) Oversight Act, and the joint resolution repealing the SEC’s rule on banks handling cryptocurrencies. In contrast, Latimer has not made any notable statements regarding cryptocurrencies or blockchain.
Bowman had the support of many members of his party. However, interest groups including Fairshake and the United Democracy Project – a political action committee reportedly linked to the American Israel Public Affairs Committee – have spent $17 million to oppose the Democratic incumbent. The New York representative publicly criticized Israel following its military operations in Gaza.
about: US politicians likely to spread information using cryptocurrencies
Ahead of the primaries, New York Rep. Alexandria Ocasio-Cortez (AOC) criticized Fairshake and the United Democracy Project for “dumping nearly $15 million to impeach a member of Congress” and called them “corrupt” and of “fundamental threat to the United States”. .” democracy.” On June 25, AOC won the Democratic primary for New York’s 14th congressional district.
Gemini co-founder Tyler Winklevoss, who recently pledged $1 million to support Donald Trump – part of which was later returned – in the 2024 presidential election, told X on June 25 that “it This is what happens when you fight against a cryptocurrency army. .” His comments were likely in reference to Latimer’s primary victory.
Victory in Utah
John Curtis, representing Utah’s 3rd Congressional District, won the Republican primary for U.S. Senate on June 25. According to Federal Election Commission filings, Fairshake’s Defend American Jobs PAC spent more than $3 million on media buys to support Curtis and about $1.2 million to oppose challenger Trent Staggs.
Although Staggs’ position on cryptocurrencies is unclear, Rep. Curtis co-sponsored the FIT21 Act and the Anti-Central Bank of State Oversight (CBDC) Act and voted in favor of the joint resolution to repeal SEC Staff Accounting Bulletin 121. The SEC Finance and Stock Exchange effort approved Bitcoin (BTC) exchange-traded funds and said “cryptocurrencies have become an important part” of the U.S. economy.
Choose winners and losers
With nearly $169 million in its coffers contributed by cryptocurrency companies including Coinbase and Ripple, Fairshake’s media campaigns may have already swayed American voters.
In March, California state Rep. Katie Porter lost her U.S. Senate primary race after a Verchack ad claimed she received campaign contributions from “Big Pharma CEOs, Big Oil and Big Bank. Protect Progress, another Fairshake company, supported Democratic candidates Shomari Figgers and Julie Johnson, who won the California and Texas primaries.
review: Crypto Voters Have Already Disrupted the 2024 Elections – and It’s Set to Continue
