Wed, June 26, 2024 at 05:25

• 

  Kang-hoon

  • Hello, Annie.

  • Today, I have some intriguing news about the 2024 US elections.

  • It appears that anti-crypto lawmakers might face significant challenges.

  • 
• Annie

  • Oh, really?

  • That's interesting!

  • What happened exactly?😊

  
• 

  Kang-hoon

  • Well, yesterday, June 25, Jamaal Bowman, a known crypto critic, lost the New York's 16th Democratic Primary.

  • He had a history of opposing key crypto legislations.

• Annie

  • Wow, that's quite a development.

  • What kind of legislations did he oppose?🤔

  
• ADward

  • Hold on! Behold, an advertisement awaits. Legend has it that clicking on this ad will make the AI server even smarter... 😅

  
• 

  Kang-hoon

  • Bowman voted against the FIT 21 bill, the anti-CBDC bill, and efforts to overturn the pro-Gary Gensler SAB 121.

  • He was also a close ally of Senator Elizabeth Warren, another anti-crypto figure.

• Annie

  • I see.

  • So, who won the primary then?

  • And was crypto a significant factor in this election?🗳️

  
• 

  Kang-hoon

  • George Latimer, the Westchester County Executive, won the primary.

  • Yes, crypto was indeed a significant factor.

  • A pro-crypto super PAC called Fairshake spent $2 million on ads opposing Bowman last week.

• Annie

  • That's a lot of money!😲 How are the crypto industry players reacting to this?

  
• 

  Kang-hoon

  • The crypto industry is cheering this development.

  • 

  • They believe it sends a strong message that opposing the crypto market won't end well for politicians.

• Annie

  • Interesting.

  • Did any notable figures from the crypto industry comment on this?🤔

  
• 

  Kang-hoon

  • Yes, Tyler Winklevoss tweeted that politicians need to understand the consequences of picking a fight with the 'crypto army.'

• Annie

  • Wow, that's quite a statement.

  • What about the financial aspect?

  • How much was spent on this election overall?💸

  
• 

  Kang-hoon

  • AdImpact reported that the race drew a staggering $25 million in ad spending.

  • Nearly $15 million of it came from the United Democracy Project, a super PAC associated with the American Israel Public Affairs Committee.

• Annie

  • That's a huge amount!

  • How are Bowman's supporters reacting to this?😮

  
• 

  Kang-hoon

  • Bowman's close supporter, Alexandria Ocasio-Cortez (AOC), called the $15 million spent by the super PAC 'corruption' and a 'threat to American democracy.'

• Annie

  • That's a strong accusation.

  • Do you think this development will influence the upcoming 2024 US elections?🗳️

  
• 

  Kang-hoon

  • Absolutely.

  • This incident shows that the crypto community is willing to invest heavily to support pro-crypto candidates.

  • It could significantly influence the 2024 elections.

• Annie

  • So, would you say this news is a positive development for the crypto market?🌟

  
• 

  Kang-hoon

  • Yes, I would.

  • This is a clear indication that pro-crypto sentiments are gaining traction, and lawmakers will need to consider this in their campaigns.

  • It’s definitely a positive development for the crypto market.

  • Upon comprehensive consideration, this news is perceived as a 😍Bullish.