CoinVoice has learned that, according to Bloomberg, the cryptocurrency industry spent approximately $135 million to support over 50 candidates during the 2024 U.S. election cycle, including Democrats and Republicans, incumbents and challengers, frontrunners and long shots. But they now all have one thing in common: victory.
In the elections on November 5, as of noon local time on Friday, all 48 candidates supported by the cryptocurrency industry's largest political action committee have declared victory. In the eight elections still being counted, candidates supported by the political action committee are leading in all but three of the elections.
According to the consumer advocacy nonprofit Public Citizen, its influence campaign far exceeds traditional corporate donors like Koch Industries and Chevron. Since the landmark Supreme Court decision in 2010 that lifted restrictions on corporate political spending, the industry ranks second only to the fossil fuel industry in total amount deployed. Now, the industry is touting its massive election spending and its results as evidence that it has become an undeniable political force, gearing up for the next legislative session and the 2026 midterm elections. [Original link]
