Pro-Bitcoin Candidate Ted Budd wins the U.S. Senate race

  • Pro-Bitcoin candidate Ted Budd has won the U.S. Senate race.
  • He’s been commended by crypto enthusiasts for his work in the area.
  • A supporter of cryptocurrency is also the U.K. prime minister.

According to a Twitter post, Rep. Ted Budd has won the North Carolina election for the US Senate. The crypto sector has therefore praised him for his actions in the House. This includes his attempt to block a bill that would have given the Treasury unprecedented authority over cryptocurrencies. 

Besides, to represent North Carolina in the Senate, Budd ran against Democrat Cheri Beasley. Budd accepts Bitcoin campaign donations through BitPay.

Pat Toomey, a supporter of stablecoin regulation, is one of the four senators who decided not to run in this election. The MPs claim that they have lost faith in the parliamentary process. However, there are more than 50 cryptocurrency laws in Congress that await to be passed.

Notably, political action committees (PACs) are a new prevalent across the board in politics. These private action committees (PACs) have as one of their objectives to finance the election or defeat of a specific politician.

Further, it is made apparent on the Crypto Freedom PAC website whose pro-crypto candidates it is backing. Ted Budd and Adam Laxalt are two politicians who have received public support from this PAC. Blake Masters, however, an Arizona senatorial candidate who invests in bitcoin and has Peter Thiel’s endorsement, appears to be the PAC’s main benefit right now.

How successful the Crypto Freedom PAC is in supporting their preferred candidates during this first election season is still to be seen.

Naturally, it is essential for regular crypto investors to keep an eye on how the super PACs affect the long-term viability of the crypto market.

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Godfrey Mwirigi is an enthusiastic crypto writer with an interest in Bitcoin, blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience in their day-to-day endeavors.

programmer & freelance writer