At the federal level, the former executive director of the Bitcoin Foundation, Bruce Fenton says he wants to remove regulatory barriers for the crypto economy as he is considering a self-funded campaign for the Republican Senate nomination in New Hampshire.
For numerous years, the long-time bitcoin enthusiast has been active in New Hampshire’s libertarian movement, the Free State Project. Despite claiming to be a libertarian, Fenton intends to run as a Republican, referring to himself as a “Ron Paul Republican” on occasion.
Fenton said that he wants to be a government ambassador for bitcoin, claiming that his thorough understanding of the technology and crypto-related issues would be beneficial to the sector. From April 2015 to July 2016, Fenton was the Head of the Bitcoin Foundation, a now-defunct NGO aimed at legitimizing bitcoin.
Fenton is not the only crypto advocate to consider running for public office. Since Terra founder Do Kwon was served by the US Securities and Exchange Commission (SEC) during a Messari conference, Messari founder Ryan Selkis has been toying with the notion of running for US Senate in 2024.
When bitcoiners aren’t running for office themselves, they donate to crypto-friendly candidates like Aarika Rhodes, an elementary school teacher seeking to replace Rep. Brad Sherman (R-Calif.), who has emerged as one of crypto’s most vocal opponents on Capitol Hill.
Big personalities (and large pockets) in crypto have already expressed their support for Fenton, including Caitlin Long of Custodia Bank (previously known as Avanti) and ShapeShift founder Erik Voorhees. As the crypto business matures and encounters regulatory challenges, more crypto investors are becoming single-issue voters, which Fenton aims to capitalize on.
“I’m in favor of limiting government involvement in our lives as much as possible, Whether it’s crypto or any other issue, I believe government should reduce regulatory burdens and get out of our lives and wallets”, Fenton said.
Bruce Fenton Political Agenda
If Fenton decides to run, he plans to fund his campaign with $5 million in personal bitcoin fortune, but according to him, he’s open to receiving crypto donations as well as “other sorts of contributions.”
The state’s incumbent Democrat, Sen. Maggie Hassan (R-N.H.), is running for reelection. Hassan, on the other hand, is deeply despised by her voters, making her seat vulnerable to a Republican takeover.
Chris Sununu, the Republican governor of New Hampshire, was widely expected to challenge Hassan for the Senate seat, but he declined in November, leaving the race up to lesser-known candidates like state senator Chuck Morse.
If Fenton decides to join the fight, he will be a latecomer.
“Right now I’m talking strategy and support with a great group of folks. Timing is key since the primary is soon. The primary election is slated for Sept. 13”, Fenton stated.
Despite the obstacles, Fenton believes that if elected, he will have a beneficial impact on New Hampshire – and the crypto business.
“We are facing times of true good and evil,” Fenton said, adding “Tyranny versus freedom. The violence in Ukraine is a symptom of a larger problem of evil which is manifested in centralized power structures who use violence.”
“I think Bitcoiners have a better-than-average understanding of human rights, freedom, and peace. We all have to do all we can to further peace and freedom,” he added.
