Crypto voters could swing New Jersey gubernatorial race
The impact of cryptocurrency on elections is increasingly evident, particularly with the upcoming 2025 New Jersey gubernatorial race. The digital asset advocacy group Stand With Crypto has revealed compelling data indicating that candidates’ stances on crypto policies may significantly sway the election’s outcome.
As of a March 6 announcement, approximately 62,000 individuals in New Jersey have registered with Stand With Crypto, hinting at the potential for crypto-enthusiast voters to influence the state’s November gubernatorial election. During the previous election in 2021, Democrat Phil Murphy narrowly defeated Republican challenger Jack Ciattarelli by about 84,000 votes, amid a turnout of over 40% of registered voters in the state.
Stand With Crypto recently published the findings of a February poll involving 400 of its New Jersey members. This survey showed that 63% of respondents indicated a likelihood to vote for candidates who support pro-crypto positions. Conversely, 17% expressed that they would be unwilling to back a gubernatorial candidate opposed to crypto policies. John Anzalone, a partner at Impact Research, which conducted the poll, noted, “Crypto played a major role in the 2024 general election, and with nearly two-thirds of crypto-aligned voters indicating a preference for pro-crypto candidates, it’s primed to be a key factor in 2025 races as well.”
The influence of crypto in U.S. elections is not a new phenomenon. During the 2024 election cycle, the political action committee (PAC) Fairshake—backed primarily by Ripple and Coinbase—spent approximately $131 million to bolster candidates in both the primaries and general elections. Many of these candidates secured their positions, and Fairshake is reportedly preparing for the 2026 midterms, aiming to perpetuate crypto’s influence in U.S. electoral politics.
An affiliate of Fairshake, Defend American Jobs, has already allocated over $700,000 to support two Republican candidates in the upcoming Florida House of Representatives special elections set for April 1. This marks a significant early effort to shape political outcomes following the November 2024 elections, which saw Donald Trump win the presidency and Republicans gain a majority in both the Senate and the House.
In New Jersey, with Governor Murphy unable to seek reelection due to term limits, the June primaries will be critical in determining the candidates, potentially including Democratic Representative Josh Gottheimer and Ciattarelli, who is seeking a rematch. As the election approaches, the candidates’ positions on crypto are likely to be pivotal, especially as nearly half of Stand With Crypto’s membership identifies as Independent and may be swayed in the gubernatorial race. The organization reports that about 45% of its members are undecided or suggest they could shift their votes between a generic Democrat and Republican, making the crypto stance a critical factor in the election strategy.
The interplay between cryptocurrency and politics continues to evolve, showcasing the significant role digital assets may play in shaping political landscapes at multiple levels across the United States.
