Crypto Political Action Committees PACs Intensify Support for Ted Cruzs Senate Seat as Election Approaches

Crypto PACs are shifting their focus to the upcoming U.S. election in Texas, where Senator Ted Cruz is facing a tough race against Democrat Colin Allred. With early voting already underway, these PACs are actively supporting Cruz’s bid for reelection. The Bitcoin Voter PAC, funded by the Bitcoin Voter Project, has spent nearly $30,000 on digital advertisements in support of Cruz. This group aims to educate voters on the benefits of Bitcoin and has received $65,000 in donations. The PAC is also backing Republican presidential candidate Donald Trump and Pennsylvania Senate hopeful Dave McCormick. Polls show a close race between Cruz and Allred, with over 2.8 million Texans, or 15.1% of registered voters, having cast their ballots already. Cruz has been vocal about his support for cryptocurrency, advocating for looser regulations on Bitcoin mining in Texas. Allred, on the other hand, has expressed concerns about the potential illicit use of cryptocurrencies but has not taken an anti-crypto stance. The Bitcoin Freedom PAC, along with industry figures like Coinbase CEO Brian Armstrong and Gemini founders Cameron and Tyler Winklevoss, have also shown their support for Cruz. In addition to Texas, various PACs across the country are heavily investing in media buys to support or oppose candidates from both parties. The importance of Texas was underscored by campaign events held by Vice President Kamala Harris and former President Trump, with Harris’s rally in Houston featuring prominent figures like Beyoncé and Willie Nelson.