![]() Bill Clark / CQ Roll Call via AP Images file elections even if his company is based overseas.) Rep. “And those regulations are things like keeping Russian oligarchs from using crypto to shelter their money.”īourdeaux called it a “surreal experience” and “weird situation” to have an executive from a Bahamas-based cryptocurrency exchange spending millions of dollars to sway the outcome of her race in the affluent north Atlanta suburbs. (Bankman-Fried is an American citizen, allowing him to spend in U.S. “You just can’t help but think, yeah, they’re weighing in to curry favor with members of Congress and to influence the regulations that are being proposed right now,” she said in an interview. With the May 24 primary approaching, Bourdeaux is lashing out at the outside crypto money pouring into her primary race and others around the country - from Ohio and Oregon to Kentucky and Texas - as Washington ramps up scrutiny and begins drafting regulations for the nascent $3 trillion digital currency industry. Elizabeth Warren, D-Mass., who recently likened it to "buying air," and could be subject to a lot more scrutiny in the coming months. It's in the crosshairs of people like Sen. ![]() On Wednesday, the crypto-linked super PAC said it was endorsing nearly a dozen Democratic House incumbents and candidates, and would spend an additional $10 million in Democratic primaries, doubling its planned spending this cycle to more than $20 million.Ĭryptocurrency remains a relatively new and minimally regulated currency, but as it's grown in popularity lawmakers have increasingly eyed placing limits on the industry. That’s a huge sum for one group to spend on a primary between a pair of Democratic incumbents. This year, Protect Our Future, a new super PAC launched by FTX co-founder and CEO Sam Bankman-Fried, went up on air in greater Atlanta with nearly $2 million worth of ads praising McBath. ![]() But McBath has something Bourdeaux does not: backing from a 30-year-old billionaire who co-founded a cryptocurrency exchange that allows people to swap currencies.
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