If you had $40 million, what would you do with it? Invest in real estate? Travel the world? Or quietly save it? However, in this year's U.S. election, this money was used to help the Republican Party secure a Senate seat, enabling the crypto industry to buy half of Congress in this election! What exactly is going on?

On November 6, with the election results unveiled, shocking news emerged: Ohio car dealer and blockchain entrepreneur Bernie Moreno, with strong support from the crypto industry, successfully defeated Senate Banking Committee Chair and fierce critic of cryptocurrency Sherrod Brown, reclaiming the Senate majority for the Republican Party. This campaign not only incurred huge costs but also marked an important debut for the crypto industry on the American political stage.

You may ask, why does the crypto industry support Moreno so generously? The answer is simple: they see Moreno's deep understanding and support for the crypto industry. As a genuine crypto practitioner, Moreno not only initiated the 'Blockland' project aimed at making Cleveland a blockchain technology hub but also founded the crypto project Ownum, dedicated to replacing paper government processes with digitalization. This background fills the crypto industry with anticipation for him.

Moreno's victory also marks a significant win for the crypto industry on the American political stage. According to data from Stand With Crypto, a total of 247 candidates supporting cryptocurrency won House seats, while only 113 opposed; the Senate also leaned towards supporting cryptocurrency, with 15 supporters and 10 opponents. This outcome gives crypto insiders an optimistic outlook on the potential for supportive regulations from the U.S. Congress in the future.

However, this victory did not come without a cost. To facilitate this situation, the crypto industry invested huge sums of money, not only to support pro-crypto candidates like Moreno but also to attack opponents who did not support pro-crypto policies. While this approach achieved significant short-term results, it also raised concerns about 'money politics'.

But speaking of which, why did the crypto industry choose to pursue the path of 'money politics'? Behind this, there is an urgent need for industry development and the influence of the political environment. As cryptocurrency rises globally, the U.S., as a significant pillar of the global economy, has policies that greatly impact the crypto industry. Therefore, the crypto industry needs to use political means to advocate for a more favorable policy environment.

The results of this election undoubtedly provide a rare opportunity for the crypto industry. With the Republican Party gaining more control in both the House and Senate, the passage of a series of crypto-friendly bills becomes more promising. This will not only promote the compliant development of the crypto industry but also bring more investment opportunities and market space.

Of course, we cannot ignore the potential risks brought by 'money politics'. Excessive financial investment may distort political decisions and harm the public interest. Therefore, while the crypto industry pursues political influence, it also needs to maintain self-discipline and caution to ensure that its actions comply with laws and ethical standards.

In summary, the $40 million purchase of a Senate seat not only allowed the crypto industry to shine on the American political stage but also revealed the charm and risks of 'money politics'. How will the crypto industry navigate the dual challenges of politics and the market in the future? Let us wait and see!

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The above content is for informational sharing only and does not constitute any investment advice! Investment carries risks, and one should be cautious when entering the market!

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