Crypto sector's influence in US politics grows
👥 Super PACs linked to the cryptocurrency sector have amassed over $102 million, making them one of the top contributors to the 2024 US elections. This includes significant funding from corporations like Coinbase and #RippleLabs , leveraging unlimited spending allowed by the Citizens United ruling.
🎯 Their aim? To support crypto-friendly candidates and combat stringent regulations. Notably, this sector has seen success in most of the primary races they've intervened in so far.
💼 On the corporate side, leaders like Brian Armstrong of Coinbase openly admit to using financial clout to shape electoral outcomes, emphasizing a strategy that prioritizes corporate profits over public interests.
📈 Despite controversies and ongoing legal battles with regulatory bodies like the SEC, these #PAC s are gearing up to heavily influence the upcoming general elections, seeking the adoption of laws beneficial to the industry in the future.
