Super Tuesday to test resurgent crypto industry's political might (Part-2)

Protect Progress spent $1.7 million supporting Shomari Figures, a Democrat and former deputy chief of staff to U.S. attorney general Merrick Garland running in Alabama's 2nd congressional district. After a federal court ordered Alabama to draft a new Congressional map, a Democrat is projected to win the fiercely contested race.

Figures will "embrace the new landscape around digital assets, like Cryptocurrency, to stimulate innovation and technological advancement," if elected, according to his website.

Texas Democratic Representative Julie Johnson, competing in the 32nd congressional district, has received $962,000 from Protect Progress

According to OpenSecrets, Defend American Jobs has donated over $1 million to North Carolina Republicans John Bradford III and Tim Moore. Moore is state House speaker.Democrats are expected to win the House of Representatives by a small majority in 2024, therefore individual Congress members could be crucial to passing legislation.

"You have candidates in all of those races who have demonstrated not only an openness to learning and thinking more about digital assets, but actually calling on Congress and on policymakers to take action there," said Kara Calvert, the head of U.S. policy

Coinbase, an online crypto trading platform, launched the non-profit Stand With Crypto Alliance, which has 315,000 members and organizes crypto voters to influence public opinion.

After one of the largest financial scandals, the sector is interested in the 2024 election. FTX founder Sam Bankman-Fried was convicted of client theft last year. Prosecutors say he donated over $100 million to U.S. political campaigns.

He provided $40 million to largely Democratic groups and candidates, according to federal election filings. Bankman-Fried was also indicted for encouraging two FTX executives to circumvent contribution limitations by donating $9.7 million to Democrats and $24 million to Republicans in 2022.

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