Crypto industry giants supported political campaigns in the US looking for pro-crypto governance in the US.
Crypto political action committees and industry donors have poured $94 million into Federal Political Committees since 2023. Coinbase and Ripple Labs donated over $40 million to political campaigns, supporting the cause for positive crypto regulation. A Digital Currency Group poll shows that crypto has become a major issue among voters in the 2024 US elections. A Bloomberg report from May 17 shows that crypto donors have spent $94 million in an effort to get pro-crypto regulation in the US.
Bloomberg reported that crypto industry donors injected $94 million into federal political committees. Giants like crypto exchange Coinbase and Ripple Labs that are currently embroiled in a legal battle with the Securities and Exchange Commission have contributed their fair share to donations. Coinbase CEO Brian Armstrong personally donated $1 million to the political action committees.
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