Lobbying spending for the crypto industry in the United States has exploded by 1,386% since 2017, with a major increase in the last two years.

Crypto lobbying has seen a meteoric rise in recent years, with a few key firms leading efforts to influence lawmakers in the United States.

Coinbase, for example, has increased its lobbying spending by 3,475% over the past seven years, according to a September 5 report from Social Capital Markets. The crypto exchange’s spending has increased from $80,000 in 2017 to $2.86 million in 2023.