The cryptocurrency community is basking in the glow of a major political victory following the reelection of Donald Trump after pouring over $200 million into campaigns and political action committees.
Bloomberg reports that the cryptocurrency industry emerged as a dominant force in the 2024 U.S. election, with their massive campaign contributions and lobbying efforts paying off in spectacular fashion. The industry, led by major players such as Coinbase, the Winklevoss twins, and Jesse Powell of Kraken, donated over $200 million to political action committees and candidates, making them the highest spending industry in American politics.
The centerpiece of the crypto industry’s political strategy was the Fairshake PAC, which alone received $75 million from Coinbase. Fairshake and its affiliated groups spent a total of $135 million backing 56 candidates, with 47 of them…
