Colorado voters sent at least one crypto-backed candidate to the November general election on Tuesday. The Democrat received $1 million in support from a PAC aligned with Ripple co-founders, according to Cointelegraph.
The spending reflects a broader shift in crypto industry strategy. Rather than waiting for regulatory clarity, major players are funding candidates directly. The $1 million backing in a single primary race underscores the scale of capital now flowing into electoral politics from the sector.
Crypto firms and their leaders have ramped up political spending over the past two election cycles, especially as scrutiny over token classification and exchange regulation intensified. A PAC with ties to Ripple co-founders is one of several crypto-backed vehicles now active in federal and state races. The Colorado result shows this money can move primary outcomes in competitive races.