A venture capitalist and author of the book “Hillbilly Elegy” JD Vance, won the Ohio Republican Senate primary election, making him the GOP’s candidate in the highly anticipated Senate race against Democrat Tim Ryan. Both parties had field candidates who are crypto-friendly.
Vance may have been pushed to victory on Tuesday by a last-minute endorsement from Donald Trump, former U.S. President. It helped him beat out presumed front-runner Josh Mandel, the former state treasurer.
Vance and Mandel both favor cryptocurrency, with Mandel famously tweeting, “Ohio must be a pro-God, pro-family, pro-Bitcoin state.”
Vance has disclosed Bitcoin (BTC) worth up to $250,000, which at the time of writing is around 6.5 BTC, as per CoinGecko. Bitcoin proponent and billionaire investor Peter Thiel also backed Vance through a Super PAC. Thiel donated $3.5 million to the Protect Ohio Values Super PAC.
On the other hand, Democrat Tim Ryan stands in favor of a law that helps simplify the digital asset tax reporting requirements. While the crypto industry is rapidly growing, the technology’s mindshare among senators could cause a major shift, making it mainstream.
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