The digital asset advocacy organization Stand With Crypto has released data suggesting that the crypto policy positions of candidates in the 2025 New Jersey gubernatorial race could determine the outcome.
According to a March 6 notice, Stand With Crypto said roughly 62,000 people had registered with the organization in New Jersey, suggesting that crypto-minded voters could play a role in the state’s November gubernatorial election. During the last race in 2021, Democrat Phil Murphy defeated challenger Jack Ciattarelli by roughly 84,000 votes, with more than 40% of registered voters turning out.
The advocacy group released the results of a February poll among 400 of its members in New Jersey, showing 63% were more likely to vote for a pro-crypto candidate in the state’s gubernatorial election. The data showed that 17% of individuals in the poll said they would not vote for a gubernatorial candidate opposed to crypto policies.
“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,” said John Anzalone, a partner at Impact Research, which conducted the poll.
Crypto influencing US elections
During the 2024 cycle, the political action committee (PAC) Fairshake — funded mainly by Ripple and Coinbase — spent roughly $131 million to support candidates in primaries and the general election, many of whom went on to win their seats. The PAC has continued to raise funds for the 2026 midterms, suggesting that it intends to continue influencing US elections with crypto money.
A Fairshake affiliate, Defend American Jobs, has already spent more than $700,000 to support two Republican candidates running for Florida House of Representatives seats in 2025 special elections. The April 1 elections will be some of the first held after the November 2024 races, in which Donald Trump won the presidency, and Republican lawmakers won a majority in the US Senate and House.
Related: Bitcoin network used to secure local GOP convention election results
In New Jersey, Governor Murphy is not eligible to run again, having served two consecutive terms. June primaries will determine the candidates for the general election, which could include Democratic Representative Josh Gottheimer and Ciattarelli, a Republican. With roughly eight months until the 2025 election, it’s unclear who in either party could emerge as the frontrunner.
“Despite their Republican-leaning DNA, almost half of Stand With Crypto members identify as Independents and are persuadable in the race for governor,” said Stand With Crypto. The organization added that “nearly half of members (45%) are persuadable in the gubernatorial race – either undecided or say they could change their vote between a generic Democrat and Republican.”
Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions
