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Crypto PAC’s final media buys before US Election Day go to Wisconsin

The Fairshake PAC reported to the FEC spending more than $760,000 on a media buy supporting Wisconsin Representative Bryan Steil, running for reelection in 2024.

The cryptocurrency-backed political action committee (PAC) Fairshake has reported one of its last expenditures before Election Day in the United States — and it’s supporting a Republican candidate in Wisconsin.

In an Oct. 28 filing with the Federal Election Commission, Fairshake reported spending more than $760,000 on a media buy supporting Wisconsin Representative Bryan Steil, running for reelection in the state’s 1st congressional district. With seven days until US voters decide who their elected representatives will be in Congress and the White House, the media buy for Rep. Steil will likely be one of Fairshake’s final actions before Election Day.

Steil, who has served as a Wisconsin representative in the US Congress since 2019, voted in favor of the Financial Innovation and Technology for the 21st Century Act and a resolution overturning the US Securities and Exchange Commission’s Staff Accounting Bulletin No. 121. The Republican lawmaker will face off against Democrat Peter Barca on Nov. 5, with an October poll showing Barca trailing Steil by three points.

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Pennsylvania, Wisconsin drive surge in crypto interest among swing states

According to a16z’s “State of Crypto” report, crypto interest has surged in three of the top five swing states since 2020.

Digital assets may not be a top issue in the United States presidential elections, but they are increasingly becoming a key topic for many voters, particularly in swing states.

According to a16z’s “State of Crypto 2024” report, data from Google Trends indicates that Pennsylvania and Wisconsin, both expected to host tight races, have recorded the fourth- and fifth-largest increases in cryptocurrency search interest since the 2020 elections.

Other swing states, such as Michigan and Georgia, have also seen a surge in cryptocurrency queries, while Arizona and Nevada have experienced moderate declines in interest since 2020. These states can swing either way — Democratic or Republican — during presidential elections, often playing a crucial role in determining the outcome of US elections.

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US Senate overturns SEC’s anti-crypto resolution, but will Biden veto? Law Decoded

The U.S. president remains the last barrier to recalling the problematic anti-crypto resolution by the SEC.

In a 60 to 38 vote, United States senators passed H.J. Res. 109, a resolution nullifying the U.S. Securities and Exchange Commission’s (SECs) Staff Accounting Bulletin No. 121. The commission’s rule requires banks to keep customers’ digital assets on their balance sheets, with capital maintained against them — a measure many lawmakers and industry leaders have criticized as stifling innovation. 

“The tally, a stunning 60 ‘Yeas’ in the Senate vote, sends a strong signal that both houses of Congress, across the political divide, clearly disapprove of this rule,” stated crypto advocacy group the Blockchain Association.

However, before the resolution passed in the U.S. House of Representatives, President Joe Biden said he intended to veto the bill to “protect investors in crypto-asset markets and to safeguard the broader financial system.”

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Wisconsin Pioneers State-Level Bitcoin Investment in the U.S.

Wisconsin Pioneers State-Level Bitcoin Investment in the U.S.In a landmark move, Wisconsin has become the first U.S. state to invest in bitcoin, underscoring the growing institutional interest in cryptocurrencies. The State of Wisconsin Investment Board, which manages over $156 billion in assets, purchased 94,562 shares of Blackrock’s Ishares Bitcoin Trust, worth nearly $100 million, and also acquired shares of Grayscale’s Bitcoin Trust […]

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Study Identifies the Top 10 States in America Most Interested in Bitcoin, Ethereum

Study Identifies the Top 10 States in America Most Interested in Bitcoin, EthereumOn September 2, the crypto market aggregation web portal Coingecko.com published a study that identifies the top ten states in America that are most interested in the two leading digital currencies, bitcoin and ethereum. The team leveraged Coingecko’s page traffic data and found that California captures 43% of the traffic visiting the site’s bitcoin and […]

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