A spokesperson for Stand With Crypto said the organization’s PAC had not yet used any of its funds to support candidates in the New Jersey gubernatorial election, but may before November, when it also intends to endorse a candidate. The group launched its PAC in May 2024 ahead of the US federal elections.
According to Federal Election Commission data, the cryptocurrency-backed PAC Fairshake and its affiliate Protect Progress spent more than $240,000 to support Gottheimer in his 2024 Democratic primary, and the candidate received campaign contributions from many industry figures, including Cameron and Tyler Winklevoss and Coinbase CEO Brian Armstrong. Cointelegraph reached out to Gottheimer’s campaign regarding crypto donations for the governor’s race, but had not received a response at the time of publication.