Crypto PAC Drops $2M in Florida Race

A political action committee supported by Ripple and Coinbase recently spent two million dollars on a Florida congressional race. The spending targets a newly open seat, though the campaign ads themselves rarely mention digital assets or blockchain policy.

The outgoing representative for the district previously voted against the GENIUS and CLARITY Acts before deciding not to run again. Instead of staying neutral, that same representative recently endorsed a specific Democratic candidate in the primary.

Industry political committees continue to inject heavy funding into congressional races across the country to shape future policy debates. Traders and observers are watching to see if this big spend changes the outcome in Florida and influences future crypto legislation in Washington.