• Crypto political action groups contributed to congressional candidates in Texas, North Carolina, and Alabama who won their primaries Tuesday.
  • Their largest donation went to U.S. Rep. Katie Porter, who is running for a California Senate Seat.

The crypto industry’s focused campaign spending paid off in Super Tuesday elections throughout the U.S. Several key congressional races went the way that the industry had hoped.

Crypto-interests were particularly concerned that U.S. Rep. Katie Porter would not be able to win a Senate seat for California. They feared she might follow in the footsteps of Sen. Elizabeth Warren. As a digital asset antagonist. preliminary results place Porter in third place in California’s top two primary contest. This leaves Porter out of contention for the Senate and also out of work next year in California’s House of Representatives.

Josh Vlasto is a spokesperson for Fairshake, and other political action groups (PACs) created by crypto businesses and investors. The crypto voter is concerned about the candidate’s side, and will play an important role in the elections of 2024.

Read more: Crypto Seeks to Make Mark in U.S. Super Tuesday: Elections during the ‘Super Tuesday”

Porter was the target of the crypto industry. While the role played by the crypto industry in her defeat cannot be quantified, the cash from the industry arrived when she was neck and neck with Steve Garvey, the top Republican. Garvey eventually beat her. Porter may have still not been able defeat U.S. Rep. Adam Schiff, D-Calif. in the general election of November if she had finished second. He will now compete with Garvey to win the Senate seat.

Vlasto reports that the crypto PAC spent a total of more than 13 million dollars on four congressional elections, including Fairshake, and Protect Progress. More than $10 million of that total was spent to defeat Porter.

Shomari Figures was also given $1.7 million by crypto interests to dominate a field crowded with Democrats in a House election in Alabama. Figures, a Washington veteran with a number of government positions under his belt, was once employed by Sen. Sherrod (D) Brown. As the chairman of the Senate Banking Committee, Brown has been a major obstacle to the progress of crypto legislation. Figures stated on his campaign site, that he would “embrace the digital landscape, such as cryptocurrency, in order to stimulate innovation and technology advancement.”

In Texas, industry PACs supported Julie Johnson in a congressional race where she had so far won more than half the votes despite nine other Democratic candidates.

The crypto industry also boosted Tim Moore in North Carolina for a congressional campaign there. More than $500,000 was donated to the Republican Speaker of the North Carolina House. Moore won the nomination Tuesday. His seat is seen as a key in a shift towards more Republicans within North Carolina’s congressional delegation.

These results are a win for crypto, but the outcome of the general elections in November will determine whether Congress is more friendly to the sector in 2019. The president will decide who will run the regulatory agencies for the next four-year period, and will also determine how they will operate. Majority parties in both the Senate and House of Representatives will set the agenda for crypto laws. Whatever party is in power, both sides will need to work together for progress.

In a research note published on Wednesday, Jaret Séiberg, TD Cowen analyst, said that crypto election spending would be beneficial to the next Congress if industry-preferred candidates won in November. It won’t be enough to make a difference, as there will still be enough crypto-critics who will ensure that whatever bill is passed is a compromise.

Seiberg pointed out that “key critics are still in power,” including Senate Banking Chair Sherrod brown and Sen. Elizabeth Warren.

Kevin Reynolds is the editor.