GMI—a common mantra in crypto circles—stands for 'gonna make it.'
GMI PAC says it has spent more than $10 million on congressional and senate races this cycle.GMI PAC—a political action committee backed by some of the crypto market's biggest participants—is setting its sights on 2024 after spending more than $10 million in this cycle’s congressional primary races.
Other notable candidates that GMI supported include Sen. John Boozman, the top Republican on the Senate Agriculture Committee and a cosponsor of legislation to broaden the Commodity Futures Trading Commission’s power to directly regulate digital assets, and Democrat Jonathan Jackson, son of famed political activist Jesse Jackson, and the strong favorite to win a congressional seat representing parts of Chicago. The PAC also backed Democrat Glenn Ivey in a hotly contested Maryland primary.
The PAC's founding donors and board of directors include CMS Holdings co-founder Dan Matuszewski, Framework Ventures co-founder Vance Spencer, and FTX Digital Markets CEO Ryan Salame. Donors include crypto exchange giant FTX, investment firm Paradigm, Multicoin, and venture firm a16z.
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