Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
The encryption industry's $135 million U.S. campaign has remained undefeated in all 48 elections to date

The encryption industry's $135 million U.S. campaign has remained undefeated in all 48 elections to date

Bitget2024/11/08 13:39
BTC-1.70%

On November 8th, the crypto industry spent approximately $135 million to support more than 50 candidates in the 2024 U.S. election cycle, including Democrats and Republicans, incumbents and challengers, sure-win candidates and those with slim hopes. But now they all have one thing in common: victory. In the elections on November 5th, as of noon local time on Friday, all 48 candidates supported by the largest political action committee (PAC) in the crypto industry announced their victories. In eight ongoing vote counts, PAC-supported candidates are leading in all but three races.

According to consumer advocacy non-profit organization Public Citizen, its influence campaign far exceeds traditional corporate donors such as Koch Industries and Chevron Corporation. Since a landmark Supreme Court decision lifted restrictions on corporate political spending in 2010, this industry ranks second only to fossil fuels when calculated by total deployed funds. Now it is loudly touting its massive election spending and results as evidence that it has become an undeniable political force ready for next legislative session and gearing up for mid-term elections in 2026.(Bloomberg)

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

The US Dollar Index fell by 0.25% on the 15th.
金色财经2025/10/15 21:21

Trending news

More
1
Traders bet that the Federal Reserve will cut rates at least once by the end of the year, with a possible reduction of 50 basis points.
2
The US Dollar Index fell by 0.25% on the 15th.

Crypto prices

More
Bitcoin
Bitcoin
BTC
$111,211.59
-1.61%
Ethereum
Ethereum
ETH
$3,980.7
-3.25%
Tether USDt
Tether USDt
USDT
$1
+0.02%
BNB
BNB
BNB
$1,158.96
-5.06%
XRP
XRP
XRP
$2.41
-3.14%
Solana
Solana
SOL
$194.6
-2.79%
USDC
USDC
USDC
$1
+0.02%
TRON
TRON
TRX
$0.3184
+0.73%
Dogecoin
Dogecoin
DOGE
$0.1972
-3.02%
Cardano
Cardano
ADA
$0.6665
-4.09%
How to sell PI
Bitget lists PI – Buy or sell PI quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now
Trade smarter