Today is Super Tuesday in the U.S. and for those of you who do not know what that means here is a quick breakdown. In November the US will be having its regular elections for the House, 1/3 of the Senate, and the Presidency. Super Tuesday is when 15 of the 50 states all have their primaries for the General Elections in November. For most races, the result will show you what Republicans and what Democrats are going to be facing each other but that is not always the case in California they have a jungle primary system where it is just the top two vote-getters and could result in two Republicans or two Democrats facing each other in November.
During the Primary season, the big money is usually reserved for the President or maybe a Governor/Senate race. This is because of the number of votes and how often these races can be very very close. However, this election cycle the Presidential nominations are locked up barring some sort of significant change. Even with the Senate races, there is only one big money race out there and that is in California to replace Former Sen. Feinstein who passed away in office last year.
Ton of money though and by that I mean millions have been poured into some Congressional District races. For a primary that is a pretty absurd amount of money since you are for the most part only going up against people in your own party. However, since we have seen how anti crypto some people are those people running that are pro crypto are getting help and depending on their opponent huge help from the cyrpto PACs to win and move to the General Election in Novemeber. Donations from the PACs have tended to be along the lines of one PAC is backing Republicans and another is backing Democrats but since the PACs have not been backing people facing each other it will be interesting to see how that plays out.
This is also a huge step for the crypto space since the fall of FTX and SBF as the donations and parties held for politicians across the board were pretty substantial. With SBF sitting in jail and FTX recovering more funds than most people thought possible crypto PACs have a clean slate again. Considering the prices of crypto have rebounded and BTC by some estimates set a new all-time high it is as important as every that crypto keeps its nose clean and doesn't fall victim to another SBF type person who could be blamed for trying to bribe Congress or write legislation that lets them off easy in case of failure. I feel that is the case and crypto has turned a page but only time will tell.
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