Ramaswamy's gubernatorial campaign abandons 2024 cryptocurrency rhetoric

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Ramaswamy's campaign for Ohio governor: Weighing from national cryptocurrency focus to local issues

Vivek Ramaswamy is a long-time supporter of cryptocurrencies in U.S. politics and is now running for the 2026 Ohio gubernatorial election. However, the digital asset proposition he relied heavily on in the 2024 presidential campaign no longer appears to be at the core of his current propaganda strategy. Although his stance does not deviate from the pro-crypto asset category, his public emphasis on digital assets has significantly cooled as the election dynamics of "Buckeye State"(Ohio's nickname) change.

Ramaswamy still mentions cryptocurrencies in his campaign materials, and he is involved in the industry both personally and in his business fields. However, reports on the Ohio campaign show voters are focused on other issues-particularly the controversy surrounding data centers-while cryptocurrency issues need to compete with local economic concerns and broader campaign spending patterns.

Key Points

Policy Focus Shift: During the 2024 presidential campaign, Ramaswamy strongly opposed the Central Bank Digital Currency (CBDC), but during the 2026 campaign, his stance on digital assets has been significantly reduced.
Infrastructure support: Its campaign has pro-crypto infrastructure, including websites that accept cryptocurrency donations, and its political network also includes multiple major crypto-related donors.
Regulatory and policy linkages: 通过其商业联系，他持续面临监管和政策层面的曝光。报告引用的文件显示，Strive持有大量比特币头寸。
数据中心的争议：2026年俄亥俄州的政治局势可能受到公众对数据中心反弹的影响，而这一领域与加密货币挖矿运营密切相关。
选情预测：民调显示州长竞选日益激烈，截至报道时，Kalshi和Polymarket上的合约均倾向于民主党候选人。

从全国焦点到俄亥俄的地方妥协

在2024年总统竞选中，拉马斯瓦米多次赞扬比特币及代币挖矿，同时反对央行数字货币。此前有媒体指出，他反对CBDC，并将亲比特币的立场框架化为国家发行数字货币的替代方案。在该竞选周期内，他也保持在专注于加密领域的活动中露面。

唐纳德·特朗普当选后，拉马斯瓦米被提名为政府效率部（DOGE）成员，与埃隆·马斯克（Elon Musk）共同任职，但他最终未正式在政府中担任职务便离开了。2025年2月，他宣布参选俄亥俄州州长，并表态支持《俄亥俄州战略加密货币储备法案》，这是一项旨在允许建立战略比特币储备的州级法案。

最近，由拉马斯瓦米联合创办的资产管理公司Strive于2025年9月宣布计划进入数字资产市场，推出一只专注于收购比特币的公司发行的债券的比特币债券ETF（据《金融时报》报道）。

信号依然指向加密，但侧重点正在转移

拉马斯瓦米在俄亥俄州竞选活动中的加密足迹依然可见。据报道，自启动竞选以来，他的言论与其在2024年推广的内容保持一致，包括出席“Bitcoin for America”（3月）和“Bitcoin 2025”（5月）等会议作为演讲嘉宾。他的竞选网站也接受加密货币捐款。

具有加密背景的盟友和捐赠者似乎也在资助他的努力。报告引用了超级政治行动委员会“V-PAC: Victors, Not Victims”的竞选财务披露，其中包括来自Susquehanna International Group联合创始人Jeff Yass、NYDIG创始人Ross Stevens以及埃隆·马斯克等人的大额捐款，此外还提到了“Bitcoin Voter Project”。

In addition to political support, the report also highlights the economic benefits Ramaswamy has gained through his stake in Strive. A U.S. Securities and Exchange Commission filing shows that as of August 28, Strive held 23,156 bitcoins worth approximately $2 billion. A separate SEC filing shows that as of September 26, the candidate held 5,693,897 shares of Strive, valued at more than $170 million. A separate document provided by Signal Ohio claims that as of April, Ramaswamy personally held more than $1,000 worth of Bitcoin and Ethereum through the Coinbase wallet.

Why data center and local concerns could reshape the campaign message

One reason the topic of cryptocurrency has taken a back seat involves how Ohio voters view data centers. As the report points out, Ohio is facing public scrutiny over the growth of data centers and the ripple effects it has on communities, including infrastructure needs.

The report points to broader public opinion and demographic realities. As of April, Ohio had 166 data centers, more than any other state in the United States, according to the Pew Research Center. Ohio is also described as the home of cryptocurrency mining operations, with companies such as Cipher Mining, Bitdeer and BIT Mining named in the article.

Polls also show widespread skepticism about new data centers. The report quoted NBC 4i's report on polls that showed that most Ohio residents do not support building data centers in their communities. Later, the report compared the policy commitments of Ramaswamy and his Democratic opponent Amy Acton.

Ramaswamy reportedly promised in August that any data center built in any Ohio community would exempt residents from electricity bills and reduce property taxes. By contrast, Acton proposed that "all costs of gas, water and electricity needs" should be borne by the data center and its investors, rather than Ohio taxpayers or communities.

This is critical for cryptography-centered campaign information, as mining and other digital asset activities are often associated with power-intensive data center infrastructure. In a campaign where residents may decide how growth affects their utility bills and property taxes, pro-crypto rhetoric may get entangled with local costs, even if candidates prefer to discuss digital assets in a more macro innovation-friendly framework.

Election dynamics: The game between crypto politics and voter priorities

Ohio's political environment in 2026 also reflects significant spending in line with industry. Reported that Ohio has targeted more than $40 million in industry-consistent funding in 2024 to support Republican Bernie Moreno's Senate race, and a similar pattern appears to be emerging in this election cycle.

特别是，报道引用了Fairshake PAC的计划，即最初花费3,000万美元再次对抗民主党人Sherrod Brown，以及之前关于已花费1,100万美元用于广告的报道。对于选民情绪，报道引用了Digital Currency Group在2024年5月委托的一项民调，显示俄亥俄州受访者对加密货币的态度“比其他州更负面”——79%的人表示从未持有过加密货币，77%的人报告持负面看法。

随着投票日的临近，预测工具显示这是一场激烈的竞争。报道指出，截至9月22日，RealClearPolling数据显示Acton以一票领先拉马斯瓦米——这被视为势均力敌的局势。它还指出，Kalshi上的一个事件合约在上周一下午的最后检查中，已有超过200万美元的赌注，并以66%的概率青睐民主党候选人，Polymarket上也显示了类似的赔率。