# Cryptocurrency lobbying spending soars! 📈

According to Social Capital Markets research, lobbying spending in the US cryptocurrency industry has increased by 1,386% since 2017, with nearly 60% of that occurring in the past two years. Coinbase's lobbying spending reached $2.9 million in 2023, up 3,475% from 2017. Binance.US and Ripple were not to be outdone, increasing by 656.3% and 1,780%, respectively.

It is worth noting that these increases coincided with the US SEC filing enforcement actions against a number of crypto companies. BlackRock is also actively promoting the approval of a Bitcoin ETF.

What do you think of this phenomenon? Feel free to share your views in the comments section!