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first_img Cuomo: The cryptocurrency industry bets heavily on the Republican Party, distancing itself from the Democratic Party

Former New York Governor Andrew Cuomo stated during a panel discussion at the Token2049 conference with OKX CEO Star Xu that if the cryptocurrency industry wants to push for federal-level cryptocurrency legislation, it must maintain a balance between supporting the Democratic and Republican parties. He pointed out that the industry previously "believed that heavy investment in the Republican Party" would help pass the CLARITY Act, but "when you heavily invest in the Republican Party, you inherently alienate the Democratic Party."According to data tracked by Tech Influence Watch, cryptocurrency-related political action committees have spent $54.3 million supporting the Republican Party and $26.2 million supporting the Democratic Party in the 2026 election cycle, with an additional $23.2 million spent opposing Democratic candidates. Cuomo stated that passing legislation requires support from both the Democratic and Republican parties and should be more balanced. He also refuted the notion that the Democratic Party is inherently opposed to cryptocurrency, arguing that cryptocurrency is actually well-suited for the Democratic Party because it empowers individuals who previously could not access financial products. Prediction market Kalshi data shows that the probability of the Democratic Party winning both houses of Congress is about 61%.In terms of background, the House of Representatives passed the CLARITY Act in July 2025 with the support of 78 Democratic representatives and 216 Republican representatives, while 134 Democratic representatives voted against it; in June 2025, the Senate passed the GENIUS Act with support from 18 Democratic senators.

U.S. Republican Senator John Curtis called for an investigation into Donald Trump Jr. and Hunter Biden, involving cryptocurrency business

U.S. Senator John Curtis from Utah, a Republican, wrote to Chuck Grassley, the Chairman of the U.S. Senate Judiciary Committee, and Dick Durbin, the Chief Minority Whip, calling for an investigation into whether Donald Trump Jr. and Hunter Biden exploited their presidential family connections for personal financial gain, and requested subpoenas for both individuals. Curtis pointed out that Donald Trump Jr. had accepted wedding gifts from Russian oligarch Umar Kremlev, actively promoted family-backed cryptocurrency ventures, and served as an advisor for a prediction market platform; the related companies are regulated by the Commodity Futures Trading Commission. Donald Trump stated that his son has returned the relevant funds to Umar Kremlev.Curtis also called for an investigation into Hunter Biden's substantial business dealings with foreign entities, as well as whether the two utilized their relationship with the president to create commercial value. He mentioned that Joe Biden pardoned Hunter Biden in December 2024, who had previously denied involving his father in business transactions. A week prior to this investigation call, Senate Republicans failed to garner enough Democratic support to advance the Digital Asset Market Clear Act. Some Democratic senators opposed the bill, citing reasons including Donald Trump's use of cryptocurrency ventures to gain benefits related to the presidency; Donald Trump disclosed that he earned $1.4 billion from digital asset-related businesses in 2025.

first_img The Republican Party warns AI companies that data centers have become a sensitive issue in elections

According to Axios, the National Republican Senatorial Committee (NRSC) warned in an internal memo to top AI companies that the negative public perception of data centers in the U.S. is harming the party's chances of retaining a key Senate seat in Ohio. The memo pointed out that Democrats have made data centers a core issue in defeating Republican Senator Jon Husted, and it has been effective, stating that if he loses and blames it on data centers, politicians nationwide will avoid future projects, making this issue a potential focal point of the current election cycle.The memo, titled "Ohio Data Center Risks," urges AI companies to improve perceptions by explaining "who benefits, who pays, and why the community should welcome" them. Currently, over 4,000 data centers are operating across the U.S., with more than 3,000 under construction or planned to support AI development. However, they are facing protests due to high electricity and water consumption, rising utility costs, limited job opportunities, and concerns about AI job displacement. Internal polling shows their unpopularity is close to that of nuclear waste and has become a proxy indicator of sentiment towards AI.Husted's opponent, former Senator Sherrod Brown, has invested millions in advertising, calling him the "Ohio data center spokesperson." A Fox News poll shows Brown leading by 8 percentage points. Republicans hope that AI companies can curb the backlash; otherwise, Husted's defeat will cause lasting damage to data center development nationwide. Democrats are also acting based on polling, with Pennsylvania Governor Josh Shapiro signing an executive order imposing strict restrictions on data center development.
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