📢【Cryptocurrency lobbying spending soars, the US market is in turmoil again! 】

According to the latest research, lobbying spending in the US cryptocurrency industry has increased by a staggering 1,386% since 2017! Nearly 60% of the spending occurred in the past two years, with a total amount of up to $79 million. 💰

As an industry giant, Coinbase's lobbying spending soared from $80,000 in 2017 to $2.9 million in 2023, an increase of 3,475%. It is worth noting that about 74% of Coinbase's lobbying spending was concentrated in 2022 and 2023. Binance.US and Ripple are not to be outdone, with increases of 656.3% and 1,780%, respectively. 📈

At the same time, the US Securities and Exchange Commission (SEC) has filed multiple enforcement actions against a number of companies, including Coinbase and Ripple, and the industry regulatory storm has intensified. ⚖️

In this lobbying war, BlackRock has become the leader in lobbying for the Bitcoin ETF. As the world's largest asset management company, BlackRock is actively promoting the approval of a spot Bitcoin ETF in January 2024 through its iShares Bitcoin Trust (IBIT). 🌟

Although the market is changing, Bitcoin is still the star in our hearts! 🚀