Bitcoin · Republicans · Federal Reserve (FED) · Decrypt
Florida Candidate Liquidates $800K in Bitcoin to Bankroll Congressional Bid
Compiled by KHAO Editorial — aggregated from 2 sources. See llms.txt for citation guidance.
◎ Multiple-sources
A Republican candidate jockeying to represent Florida’s 22nd Congressional District has liquidated a portion of his personal Bitcoin stash to bankroll his political bid, while striking a pro-crypto stance in a newly shaped battleground race.
Key facts
- Michael 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
- Although Carbonara is eager to gain support from digital-asset owners, FEC data shows that his war chest has been anchored by $2.3 million in personal loans—with his latest cryptocurrency liquidation
- Earlier this month, crypto political action committee Fairshake welcomed primary victories among six political candidates that it favored with $20 million in industry money
- Debbie Wasserman Schultz (D-FL), a representative of Florida’s 25th Congressional District, who supported the passage of stablecoin legislation last year
Summary
Republican fintech entrepreneur Michael Carbonara liquidated 10 Bitcoin for $800,000 to help bankroll his congressional campaign. The candidate’s shift to the 22nd District positions him in a newly wide-open race, triggered after the recent map redraw. Carbonara is leveraging his tech background to advocate for accountability on-chain, from campaign finance to the government’s budget. Michael 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.