Crypto trade group chief will run for New York seat in House

WASHINGTON — The head of a crypto-focused trade association has decided to run for an open House seat from New York.

Michelle Bond, CEO of the Association for Digital Asset Markets, kicked off a campaign Thursday for a seat held by Republican Rep. Lee Zeldin. A member of the House Financial Services Committee, Zeldin is retiring after the current congressional term to run for governor of New York.

Bond, who will run as a Republican, previously served as a legal staffer for the Senate Banking Committee as well as the Securities and Exchange Commission. 

Launched in 2018, the Association for Digital Asset Markets has been one of several crypto-focused lobbying groups to emerge in Washington in recent years, and its members include Galaxy Digital, Paxos, Anchorage, BitGo and BlockFi. Bond has served as CEO of the trade group since 2020. 

The most recent crypto lobbying effort on Capitol Hill culminated in the first bipartisan legislative package to comprehensively address digital assets; the legislation was introduced by Sens. Cynthia Lummis, R-Wyo., and Kirsten Gillibrand, D-N.Y., earlier this month. Critics have complained the regulatory framework is far too friendly to the nascent industry.  

Bond’s campaign materials say she is a “strong supporter of President Trump’s America First mindset and policies,” according to a campaign website. 

“Many candidates talk about what they would do in Washington, but Bond already has a proven record of delivering in business and in Washington,” the website says. 

The New York First Congressional District, where Bond is running, is on Long Island and leans slightly Republican, according to the Cook Political Report. The seat was last held by a Democrat in 2015.