Republican Michael Carbonara liquidates crypto holdings to finance his bid in Florida’s redrawn 22nd Congressional District race.
Republican congressional candidate Michael Carbonara sold 10 Bitcoin for $800,000 in USDC stablecoin this month to fund his campaign. The move underscores how crypto entrepreneurs are deploying personal assets to compete in tight political races.
Carbonara, founder of digital banking firm Ibanera, had previously outraised rivals, including Rep. Debbie Wasserman Schultz, before redistricting reshaped Florida’s map. Both candidates shifted districts, with Carbonara now targeting the 22nd District, which opened after recent boundary changes.
The liquidation reflects a broader trend of tech-aligned candidates leveraging crypto wealth in electoral contests, while advocating for blockchain transparency in governance.