- Jamaal Bowman loses the Democratic primary election because of his chokehold stance on crypto.
- Bowman’s close ties to Elizabeth Warren could have caused his political losses.
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Jamaal Bowman is well known in the crypto community for his anti-crypto stance, and this did not sit well with the Super PAC Fairshake as they helped Goerge Latimer cinch victory in the New York election primaries. Bowman is well known for his opposition to the FIT 21 cryptocurrency bill and the industry at large. Reports show that he lost the Democratic primary in New York’s 16th district to George Latimer, the Westchester County Executive.
Bowman loses Democratic primaries in NY’s 16th District
The pro-crypto Super Political Action Committee (PAC) Fairshake, backed by well-known names in crypto and tech, spent $2M on ads to oppose Bowman. Josh Vlasto, a spokesperson for Fair shake, said:
“Jamaal Bowman fought against setting clear rules of the road for the crypto and blockchain industry, and tonight he’s looking for a new job […]The crypto and blockchain community will continue to support candidates who believe in innovation and job creation and reach across the aisle to get things done.”
Bowman voted against the FIT bill, which aimed to clarify digital assets in the United States. The bill was eventually passed in May, as many Democrats, barring Bowman, showed support.
Bowman has been a crypto critic, and political analysts believe his stance could have affected the primary result in some ways. In addition, his close relationship with Elizabeth Warren, a renowned crypto critic, may have contributed to his political losses.
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Crypto community members fuel millions into political campaigns
As the crypto community celebrates Bowman’s loss, they have also celebrated Utah Rep. John Curtis’s victory.
The PAC Fairshake committee has secured over $161 million from crypto supporters, firms, and industry moguls. It aims to support political candidates whose agendas align with the crypto industry.
In addition, the Winklevoss twins donated $4.9M to the entity this year. Tyler Winklevoss took to X (formerly Twitter) on Tuesday night and said, “Politicians everywhere need to understand that this is what happens when you pick a fight with the crypto army.”
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