In the 2024 election, the cryptocurrency industry went all in on political lobbying, which paid off big time. Here's a look at the key developments:
$133 Million Investment: Three crypto-backed super PACs spent a staggering $133 million to elect pro-crypto politicians.
Big Wins: Major political shifts occurred, including Donald Trump flipping from skeptic to Bitcoin advocate.
Down-Ballot Success: Crypto candidates won all 48 down-ballot races, showing strong bipartisan support.
Strategic Long-Term Plans:
Crypto firms are gearing up for the 2026 election cycle, with Coinbase already donating $25 million to Fairshake, a PAC supporting crypto-friendly candidates.
The industry's commitment to long-term planning is evident, with many players in the space focusing on securing Washington's influence for years to come.
Lobbying Boom:
The newly crypto-friendly Trump administration is pushing companies to hire lobbyists to influence policy.
Lobbying is a standard practice in U.S. politics, allowing organizations to advocate for favorable legislation.
Key Players Looking for Talent:
Riot Platforms and Uniswap are companies seeking public policy experts who can leverage connections to Washington lawmakers.
Solana Foundation, Kraken, and other industry giants are recruiting to maintain a competitive edge.
Trump's Impact on Policy:
Trump's support for Bitcoin has spurred new working groups and initiatives to shape digital asset policies.
Crypto firms also influence stablecoin regulation, which is expected to be a major focus in future legislative efforts.
The Future of Crypto Lobbying:
As the GOP fully embraces cryptocurrency, Silicon Valley crypto advocates are optimistic about their growing political influence.
With crypto now a mainstream political issue, it's clear the industry is prepared to continue its push for policy change.
Hashtags: #CryptoLobbying #BlockchainPolitics #CryptoRegulation
🛑 Disclaimer: This article is for informational purposes only and does not constitute financial advice.