Mmastodon WorldUS Politics first seen 10 d ago, last 10 d ago, peak #4

Democrat Mitchell Berman defeats crypto-backed Bryan Steil in Wisconsin

Original: Big crypto loss: In Wisconsin District 1, Democrat Mitchell Berman beats incumbent Bryan Steil, who chairs the House Fin

Democrat Mitchell Berman has won Wisconsin's 1st Congressional District, unseating incumbent Republican Bryan Steil, who chairs the House Financial Services subcommittee on digital assets. The race drew heavy crypto-industry spending: the Fairshake PAC put about $1 million behind Steil, while Crypto.com funded roughly $880,000 in attack ads against Berman through a specially created PAC.

Why now: The defeat of a sitting crypto-friendly committee chair despite major industry spending is being read as a setback for crypto's political influence.

Mitchell BermanBryan SteilFairshakeCrypto.comWisconsin

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Evidence

• Big crypto loss: In Wisconsin District 1, Democrat Mitchell Berman beats incumbent Bryan Steil, who chairs the House Financial Services subcommittee on digital assets. Fairshake spent $1M on Steil, Crypto​.com spent $880K on attack ads against Berman via a PAC created solely to… · molly0xfff@hachyderm.io · 4

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