800k dollars in campaign funds directly from BTC cash-out, further politicizing cryptocurrencies

Republican candidate for Florida's 22nd Congressional District and fintech entrepreneur Michael Carbonara liquidated 10 BTC this month, exchanging it for $800k worth of USDC to fund his congressional campaign. Carbonara founded digital banking and payments company Ibanera in 2017 and stated that his campaign team accepts external crypto donations and complies with the rules of the U.S. Federal Election Commission (FEC). FEC data shows that his campaign funds mainly come from a $2.3 million personal loan and approximately $50k in individual donations. (Decrypt)