Big Crypto is now spending more on US elections than any other industry
www.businessinsider.com
Crypto companies have already funneled some $119 million into federal elections, according to data from Public Citizen.

The crypto industry is making its mark on this year’s elections to the tune of some $119 million.

The funding has largely come from two companies — Coinbase and Ripple — which are funneling money into super PACs like Fairshake PAC, which is dedicated to “elevating pro-crypto candidates and attacking crypto skeptics,” according to Public Citizen.

At the 2024 bitcoin conference in Nashville in February, Trump — who called bitcoin “highly volatile and based on thin air” in 2019 — said he’d lay out a plan “to ensure that the United States will be the crypto capital of the planet and the bitcoin superpower of the world.” Trump has already won the backing of several crypto enthusiasts, including his running mate JD Vance, who owns at least $250,000 in bitcoin.

  • explodicleEnglish
    551·
    4 months ago

    Oh and by the way, crypto users… the coins they’ll be promoting won’t be yours. They won’t be pushing for clear SEC categorization or lower taxes. They’ll be helping insiders, and you’re on the outside.

    Coinbase made their first attempt to consolidate power with the New York Agreement. This is their next attempt, now with regulatory capture.

    Republicans are offering you financial freedom that you already have without their permission.

    • crozilla@lemmy.world
      221·
      4 months ago

      Crypto billionaires are billionaires “on paper.” By that, I mean, they can’t get their money OUT of crypto unless millions of people buy INTO crypto. So, of course, they are trying to mainstream it.