Florida GOP Candidate Sells $800K in Bitcoin to Self-Fund Congressional Campaign
By
André Beganski
Fresh out the oven, still warm. Top of the tray.
Summary
Republican congressional candidate Michael Carbonara, running in Florida's 22nd District, liquidated 10 Bitcoin worth $800,000 into USDC stablecoin to fund his political campaign. Carbonara, founder of digital banking company Ibanera, is taking a pro-crypto stance in what has become a competitive battleground race. The move illustrates how crypto entrepreneurs are using personal digital asset holdings to self-finance political ambitions.
Key quotes
· 3 pulledMichael Carbonara, who established a digital banking and payments company called Ibanera in 2017, recently parted with 10 Bitcoin, exchanging the digital asset for $800,000 worth of Circle's USDC stablecoin this month, a spokesperson told Decrypt.
The liquidation highlights how entrepreneurs connected to the crypto industry are leveraging personal fortunes to fuel political bids.
Carbonara is striking a pro-crypto stance in a newly shaped battleground race.
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