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Crypto firms spent over $134 million on 2024 US election

Crypto firms spent over $134 million on 2024 US election

CointimeCointime2025/03/10 11:11
By:Cointime

On March 10, a report by the Center for Political Accountability (CPA) stated that cryptocurrency companies invested over $134 million in the 2024 US election, raising concerns about their increasing political influence and potential risks to regulatory stability. The report released by the Center for Political Accountability pointed out that the connections between cryptocurrency companies and US politics are becoming increasingly close, bringing new concerns to regulatory agencies, investors, and the broader financial system. The report added: "While the companies making these donations may be seeking a favorable regulatory environment, these political donations further erode public trust and expose companies to significant legal, reputational, and business risks."

Despite the emphasis on risks in the report, some regulatory experts believe that these donations are necessary to push for more innovation-friendly regulations. Writer and intergovernmental blockchain expert Anndy Lian stated: "As someone deeply involved in the crypto space, I believe this expenditure is necessary for regulatory clarity, which is crucial for stability and growth. This seems to enhance investor confidence by reducing uncertainty, just as supporting candidates who favor crypto winning can boost market sentiment, as seen with Bitcoin hitting new highs after the election."

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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.

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