Republican fintech entrepreneur Michael Carbonara has sold 10 Bitcoin for $800,000 in USDC to finance his campaign for Florida's 22nd Congressional District. Carbonara, who founded digital banking company Ibanera in 2017, says the move signals his commitment to blockchain transparency in politics.
He advocates using blockchain for real-time tracking of campaign finance and government spending, arguing it exposes inefficiency and fraud. His campaign has accepted crypto donations and followed FEC rules, echoing positions of President Donald Trump and Health Secretary Robert F. Kennedy Jr.
Carbonara's war chest includes $2.3 million in personal loans, with this latest crypto liquidation adding to his self-funding. He has received about $50,000 from individual contributions and no special interest money.
His stance aligns with other pro-crypto candidates this cycle, as crypto PAC Fairshake recently supported six primary winners with $20 million in industry funds.