The encryption industry's $135 million U.S. campaign has remained undefeated in all 48 elections to date
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.
You may also like
ZashXBT Releases List of 81 Accounts to Block for Promoting MEMENETIC Presale
The probability of a Fed rate cut in September falls to 75%
Bitcoin market dominance falls to 58.23%, hitting its lowest level since January this year
200,000 ETH Withdrawn from Exchanges in the Past 48 Hours
Trending news
MoreCrypto prices
More








