{"id":448729,"date":"2022-05-18T05:07:00","date_gmt":"2022-05-18T02:07:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/crypto-crypto-gets-political-how-cryptocurrency-impacted-tuesdays-primary-elections\/"},"modified":"2022-05-18T05:07:00","modified_gmt":"2022-05-18T02:07:00","slug":"crypto-crypto-gets-political-how-cryptocurrency-impacted-tuesdays-primary-elections","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/crypto-crypto-gets-political-how-cryptocurrency-impacted-tuesdays-primary-elections\/","title":{"rendered":"#Crypto: Crypto gets political: How cryptocurrency impacted Tuesday\u2019s primary elections"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2310e7b7adf\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2310e7b7adf\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/crypto-crypto-gets-political-how-cryptocurrency-impacted-tuesdays-primary-elections\/#%E2%80%9CCrypto_Crypto_gets_political_How_cryptocurrency_impacted_Tuesdays_primary_elections%E2%80%9D\" >&#8220;Crypto: Crypto gets political: How cryptocurrency impacted Tuesday\u2019s primary elections&#8221;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/crypto-crypto-gets-political-how-cryptocurrency-impacted-tuesdays-primary-elections\/#Heres_how_a_couple_of_primary_elections_could_be_influenced_by_the_crypto_industry\" >Here\u2019s how a couple of primary elections could be influenced by the crypto industry<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/crypto-crypto-gets-political-how-cryptocurrency-impacted-tuesdays-primary-elections\/#Weston_Blasi\" >Weston Blasi<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CCrypto_Crypto_gets_political_How_cryptocurrency_impacted_Tuesdays_primary_elections%E2%80%9D\"><\/span>&#8220;Crypto: Crypto gets political: How cryptocurrency impacted Tuesday\u2019s primary elections&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"Heres_how_a_couple_of_primary_elections_could_be_influenced_by_the_crypto_industry\"><\/span>\n  Here\u2019s how a couple of primary elections could be influenced by the crypto industry<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\" data-nosnippet>\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000876696\" role=\"document\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"\n                inline\" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetArticleReader\n              \n              inline\n  article__inset\n          article__inset--type-InsetArticleReader\n              article__inset--inline\n  \"><\/p>\n<div class=\"media-object-article-reader\">\n<div class=\"audioplayer\" data-sbid=\"WP-MKTW-0000876696\" role=\"region\" aria-label=\"Listen to Article\" tabindex=\"-1\" id=\"articlereader\" data-show-title=\"false\" data-theme=\"wsj-article-reader\" data-show-header=\"false\" data-show-subscribe=\"false\" data-ads-enabled=\"true\" data-save-publication=\"false\">\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       We\u2019ve heard a lot about cryptocurrency prices and crypto exchange market caps over a tumultuous few months for the digital assets, but what about crypto\u2019s influence on politics?<\/p>\n<p> Turns out, a couple of Tuesday\u2019s most closely watched primary elections in the U.S. have some connection to crypto. <\/p>\n<div class=\"paywall\">\n       In Oregon, a super PAC called Protect Our Future has spent nearly $11 million on the candidacy of Democratic House hopeful Carrick Flynn, according to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.opensecrets.org\/political-action-committees-pacs\/protect-our-future-pac\/C00801514\/independent-expenditures\/2022\" class=\"icon none\">Open Secrets<\/a>, a site that tracks political donations. And the super PAC (an independent political action committee allowed to raise unlimited sums of money from corporations, unions and individuals \u2014 but not permitted to contribute to or coordinate directly with parties or candidates) is mostly funded by FTX CEO and  cryptocurrency billionaire Sam Bankman-Fried, according to a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.politico.com\/news\/2022\/05\/17\/oregon-elections-crypto-super-pac-00032960\" class=\"icon none\">Politico<\/a> report.<\/p>\n<p>The super PAC has spent money on<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/projects.propublica.org\/itemizer\/committee\/C00801514\/2022\/independent-expenditures#58cf9e2c81aa0bf729d9495b9f348db10fd2f085\" class=\"icon none\"> TV ads, radio ads and direct mail services<\/a> on Flynn\u2019s behalf, making the primary race for Oregon\u2019s 6th congressional district the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.npr.org\/2022\/05\/11\/1097691538\/bitter-feuds-and-crypto-ties-inside-one-of-the-most-expensive-democratic-primari\" class=\"icon none\">third most expensive House Democratic primary<\/a> of this election cycle. It\u2019s not clear if Bankman-Fried\u2019s investment in Flynn is directly related to crypto \u2014  Bankman-Fried told <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2022\/05\/14\/business\/sam-bankman-fried-ftx-crypto.html\" class=\"icon none\">the New York Times<\/a><br \/>\n        NYT,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/202090840\/composite\" class=\"positive\">+1.71%<\/bg-quote><br \/>\n       that he is giving money to Flynn because of his interest in pandemic preparedness, something that Flynn claims to have studied at the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/carrickflynn\/\" class=\"icon none\">University of Oxford<\/a>.<\/p>\n<p><strong>See also: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2022\/01\/14\/mark-cuban-says-80percent-of-his-non-shark-tank-investments-are-in-crypto.html\" class=\"icon none\">Mark Cuban says crypto is going through a similar \u2018lull\u2019 to the early internet<\/a><\/strong><\/p>\n<p>Crypto is potentially playing a role in a different way in a North Carolina House Republican primary, where Rep. Madison Cawthorn might have violated insider trading laws regarding a pump and dump situation with an altcoin called Let\u2019s Go Brandon, or LGB. <\/p>\n<p>\u201cLGB legends. \u2026 Tomorrow we go to the moon!\u2019 wrote Cawthorn, who said he owned the crypto, in a post on his Instagram page in December, according to a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.washingtonexaminer.com\/news\/house\/madison-cawthorn-implicated-in-potential-insider-trading-scheme-experts-say\" class=\"icon none\">Washington Examiner report<\/a>. The next day, NASCAR driver Brandon Brown announced that the coin would be the primary sponsor on his racing team, leading to a 75% spike in value.   <\/p>\n<p>Watchdog groups told the Washington Examiner that Cawthorn\u2019s post suggests he might have had insider knowledge about the meme coin\u2019s sponsorship deal with Brown.<\/p>\n<p>NASCAR eventually rejected Brown\u2019s bid to make LBG his racing team\u2019s sponsor. The coin\u2019s current total market cap is <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinmarketcap.com\/currencies\/lets-go-brandon\/\" class=\"icon none\">$174,133<\/a>, compared with the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.washingtonexaminer.com\/news\/house\/madison-cawthorn-implicated-in-potential-insider-trading-scheme-experts-say\" class=\"icon none\">$570 million<\/a> it was worth im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>tely after Brown\u2019s initial announcement. The Department of Justice, the Securities and Exchange Commission, and Cawthorn\u2019s representatives did not immediately respond to MarketWatch\u2019s request for comment on this story.<\/p>\n<p>Cawthorn has the support of former President Donald Trump. Trump wrote this week on <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/meridithmcgraw\/status\/1526176022500089856?s=20&amp;t=ztdZZTcWPfMGT4YwfTvo3Q\" class=\"icon none\">Truth Social<\/a>: \u201cRecently, he made some foolish mistakes, which I don\u2019t believe he\u2019ll make again \u2026 let\u2019s give Madison a second chance!\u201d <\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>Cawthorn currently represents the 11th congressional district in North Carolina, but his primary race is for the 13th district. \u201cKnowing the political realities of the 13th district, I am afraid that another establishment go along to get along Republican would prevail there. I will not let that h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>en,\u201d <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MurphinNC\/status\/1458957451349446661\" class=\"icon none\">Cawthorn has said about his race<\/a>.  <\/p>\n<p><strong>See also: Here\u2019s how much money you would\u2019ve lost if you bought crypto during Matt Damon\u2019s \u2018Fortune Favors the Brave\u2019 commercial<\/strong><\/p>\n<p>The crypto stories hovering over Tuesday\u2019s primary elections come as crypto prices have dropped this year. Bitcoin<br \/>\n        BTCUSD,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/31322028\/realtime\" class=\"negative\">-0.81%<\/bg-quote><br \/>\n       prices were up 0.63% during Tuesday\u2019s trading, but are down over 35% since the start of the year. Similarly, ether<br \/>\n        ETHUSD,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/108573964\/realtime\" class=\"negative\">-0.68%<\/bg-quote><br \/>\n       prices are up 1.33% during Tuesday\u2019s trading, but down 44% since the start of the year. The S&amp;P 500<br \/>\n        SPX,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210599714\/realtime\" class=\"positive\">+2.02%<\/bg-quote><br \/>\n       is down 14.53% in 2022.<\/p>\n<p>Additionally, the recent collapse of stablecoin TerraUSD<br \/>\n        USTUSD,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/235210788\/realtime\" class=\"negative\">-4.53%<\/bg-quote><br \/>\n       has led to Washington policymakers paying more attention to crypto regulations.<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>    <span>By<\/span><\/p>\n<div class=\"author mobile-scrim hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Weston Blasi\",\"subhead\":\"The Wall Street Journal\",\"list\":[{\"type\":\"link\",\"icon\":\"bio\",\"url\":\"https:\/\/www.marketwatch.com\/author\/weston-blasi\",\"text\":\"Biography\"},{\"type\":\"link\",\"icon\":\"email\",\"url\":\"http:\/\/www.marketwatch.com\/news\/mailto:weston.blasi@dowjones.com\",\"text\":\"weston.blasi@dowjones.com\"}]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Weston_Blasi\"><\/span>Weston Blasi<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><ufc-follow-author-widget product=\"marketwatch\" author-id=\"203_MW\" author-name=\"Weston Blasi\" signin-url=\"https:\/\/accounts.marketwatch.com\/login?target=https%3A%2F%2Fwww.marketwatch.com%2Fstory%2Fcrypto-gets-political-how-cryptocurrency-is-impacting-some-may-17-primaries-11652814760%3Frss%3D1%26siteid%3Drss\" panda-api=\"https:\/\/follow-api.marketwatch.com\"><\/ufc-follow-author-widget><\/p><\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B20C05575-04D4-B545-7D60-98E07FAC147C%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Crypto: Crypto gets political: How cryptocurrency impacted Tuesday\u2019s primary elections&#8221; Here\u2019s how a couple of primary elections could be influenced by the crypto industry We\u2019ve heard a lot about cryptocurrency prices and crypto exchange market caps over a tumultuous few months for the digital assets, but what about crypto\u2019s influence on politics? Turns out, a&#8230;<\/p>\n","protected":false},"author":1,"featured_media":448730,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.mktw.net\/im-546003\/horizontal","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-448729","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/448729","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=448729"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/448729\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/448730"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=448729"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=448729"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=448729"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}