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Anti-crypto Jamaal Bowman’s defeat in New York’s 16th election shows what’s to come in the 2024 US election
The race for the 2024 US elections has heated up with a key development that has sent a clear message that the anti-crypto stance will not benefit any legislator. On Tuesday, June 25, cryptocurrency critic Jamaal Bowman, who voted against FIT Invoice 21
he lost the sixteenth New York Democratic primary election.
The 2024 US election has no room for anti-crypto lawmakers
Jamaal Bowman has been known for his anti-crypto stance not on one occasion, but on multiple occasions in the past. He has a notable record of opposing major crypto legislation, such as voting against the anti-CBDC bill, the FIT 21 bill, as well as voting against efforts to overthrow the pro-Gary Gensler SAT 121. Furthermore, Bowman has been one of the best allies of Senator Elizabeth Warren, who has consistently spoken out against cryptocurrencies. Well, current developments provide an idea of what will happen during the 2024 US elections.
Interestingly, Bowman lost to Westchester County Executive George Latimer. Fairshake, the pro-crypto super PAC, was behind the $2 million spent on advertising against Bowman last week. Speaking to Fox Business’ Eleanor Terret, Fairshake spokesperson Josh Vlasto said:
“Jamaal Bowman has fought against clear rules for the cryptocurrency and blockchain industry, and he’s looking for a new job tonight. The cryptocurrency and blockchain community will continue to support candidates who believe in innovation and job creation, and work to accomplish their goals.”
have been very active recently to support pro-crypto candidates for the upcoming US elections this year. They have reportedly built a $100 million war chest to advertise pro-crypto candidates. These PACs have also received massive investments from major cryptocurrency industry players such as Coinbase and Ripple.
Read also: Coinbase follows Ripple and a16z with a $25 million donation to Fairshake Crypto PAC
Cryptocurrency industry players encourage development
Ad tracking firm AdImpact reported that the race between Bowman and Westchester County Executive George Latimer brought in a staggering $25 million in advertising. However, nearly $15 million comes from the United Democracy Project, a super PAC associated with the American Israel Public Affairs Committee.
Well, the development has irked Bowman’s close supporter Alexandria Ocasio-Cortez (AOC), calling the $15 million spent by the super PAC “corruption” and a “threat to American democracy.” However, cryptocurrency industry operators encourage the development by conveying the message that the struggle with the cryptocurrency market will not end well.
Politicians around the world need to understand that this is what happens when you fight with the cryptocurrency army. Italian: https://t.co/RLCA6VKM4B
— Tyler Winklevoss (@tyler) June 26, 2024
Read also: The Winklevoss Twins Donate Bitcoin to Donald Trump’s Campaign