Crypto Contributions Fall Short in New Jersey Gubernatorial Primaries
Turner Wright | Cointelegraph | June 10, 2025
As New Jersey gears up for its gubernatorial primaries, recent reports indicate a significant decline in financial contributions from the cryptocurrency sector compared to previous election cycles. Despite the active participation of crypto traders and interest groups in federal elections, their presence appears to be minimal in the statewide race for governor.
Limited Contributions Disclosed
Filings released by the New Jersey Election Law Enforcement Commission reveal that contributions from individuals associated with crypto companies for gubernatorial candidates have been significantly low. As of June 10, only a handful of small contributions have been recorded, amounting to around $4,000 in total.
Among those who contributed, Robert Samuels, the vice president of investor relations at mining company MARA Holdings, donated $500 to Democratic candidate Josh Gottheimer. Additionally, Republican candidate Jon Bramnick received a $900 contribution from Rohan Varkey, a senior analyst at Block, while Miti Sathe, a consultant for Coinbase, gave $500 to Democratic candidate Steve Fulop. Roshan Shah, CEO of New Jersey-based mining firm Decimal Digital Currency, also contributed $2,000 to Democratic candidate Ras Baraka.
These figures starkly contrast with the robust financial backing seen during the 2024 federal elections, where political action committees (PACs) linked to the crypto industry, such as Fairshake, contributed extensively, surpassing $130 million in total support for congressional races.
A Shift in Political Strategy?
Despite the lack of financial influence, crypto advocacy groups are not entirely absent from New Jersey’s electoral landscape. Recently, Stand With Crypto, an organization affiliated with Coinbase, organized a rally aimed at encouraging voter participation. The event featured speeches from candidates including Gottheimer, Fulop, and Republican Bill Spadea, all of whom expressed supportive views on digital assets.
A representative from Stand With Crypto indicated that their PAC had yet to allocate any funds to candidates in the gubernatorial race, suggesting that, while the group is engaged in advocacy, its financial contributions are not currently prevalent.
High Stakes in New Jersey’s Primaries
The backdrop of the gubernatorial primaries is marked by notable financial activity, with the race anticipated to be the most expensive in New Jersey’s history, projected at over $85 million in total expenditures to support or oppose various candidates. Despite this, it seems that PACs and political organizations have largely refrained from engaging with crypto-related funding, particularly for candidates like Gottheimer, who received more than $22 million in overall support—albeit without significant contributions from the cryptocurrency sector.
As the primaries approach, many observers will be keenly watching whether this trend continues, or if crypto funding will find a footing in future political contests within the state.
Looking Ahead
As the New Jersey gubernatorial primaries approach, the role of cryptocurrency in local elections remains uncertain. Although the current cycle reveals a lack of financial contributions from the crypto sector, the ultimate impact of voter sentiment among the pro-crypto populace remains to be seen. The electoral landscape is evolving, and it will be interesting to monitor how the integration of digital assets into political discourse will unfold in the coming elections.
For continued updates on New Jersey’s gubernatorial primaries and the evolving influence of cryptocurrency in politics, stay tuned to Cointelegraph.
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