As Texas’ early voting began before the November 6 US elections, crypto PACs have stood behind Senator Ted Cruz’s reelection.
Filings with the Federal Election Commission (FEC) show that Bitcoin Voter PAC—a crypto political action committee (PAC)—has put in nearly $30,000 in advertisements for Ted Cruz’s reelection as Senator. The filings were made as the commission requires all PACs to disclose their final expenditures.
That amount reflected expenditures until October 24, 12 days before the US Election. The state Cruz is contending in, Texas, has already begun early voting. The PAC has reportedly received $65,000 from the Bitcoin Voter Project, an entity set up by mining executives in the US to educate voters about Bitcoin. Those funds were used for advertisements for Republican presidential candidate Donald Trump and Pennsylvania Senate candidate Steve McCormick.
Cruz is contesting his reelection to face off against Democratic Senate candidate Collin Allred. Early voting in Texas began on October 21 and has seen about 15.1% of eligible voters cast their votes. That translates to a little less than 3 million individuals.
The Texas Senator has vocally expressed support for Bitcoin and mining, resulting in the full-fledged support shown by mining executives. He has spoken about wanting to loosen regulatory restrictions around Bitcoin mining in numerous conferences. He previously posted on X to highlight how he spoke about “the power of cryptocurrency to generate new jobs, encourage entrepreneurship, hedge against inflation, and present new opportunities” at a conference.
Nevertheless, Allred has also backed crypto at the policy level. As the Representative of Texas’ 32nd Congressional District, he voted in favor of the Financial Innovation and Technology for the 21st Century Act. However, he has also stated crypto’s role in funding terrorism. Cruz’s supporters have also noted Allred’s support for the industry but favor the former in the long run.
More PACs Have Supported Cruz
Beyond the Bitcoin Voter PAC, Cruz has also received support from other crypto sources, including the Bitcoin Freedom PAC. It contributed $350,000 to the Truth and Courage PAC, which supports Cruz’s reelection.
Big-name executives like Coinbase’s Brian Armstrong and Gemini’s Winklevoss twins have pumped in the maximum possible contribution of $3,300 to Cruz’s campaign. This shows the support exhibited by the crypto industry toward Republicans. Still, other executives have also supported Democrats, like Ripple’s co-founder Chris Larsen, who donated $11 million to a super PAC in favor of Democratic presidential nominee Kamala Harris.
