Crypto Industry Pours $94M into US Political Donations
CryptoNewsTerminal Staff17 May, 2024
Crypto Industry Pours $94M into US Political Donations
The crypto industry has spent a staggering $94 million on political donations to federal political committees in the past two years, according to Bloomberg. This surge in spending highlights the industry's growing influence in the political arena. Notably, Stand With Crypto, a non-profit organization advocating for the crypto industry, has played a significant role in these donations. The organization formed a super-PAC that has raised $85 million, making it one of the largest political spenders in the current election cycle. Despite the crypto industry's efforts, a recent poll suggests that most voters continue to hold negative views of the crypto industry. As the industry seeks to gain wider acceptance, it remains to be seen whether its political spending will translate into favorable policies and regulations.
