Crypto Industry's Election Influence Yields Desired Political Outcomes
TL;DR Summary
The crypto industry invested over $100 million in the recent US elections to support pro-crypto politicians, resulting in the election of Donald Trump as president and Bernie Moreno to the US Senate. This shift is expected to favor crypto-friendly legislation, with Trump promising to fire SEC Chair Gary Gensler and establish a national bitcoin stockpile. The election results led to a surge in Bitcoin prices and a significant rise in Coinbase's stock, as the company anticipates benefiting from potential regulatory changes.
- Crypto got the president (and Senate) it wanted Yahoo Finance
- The Crypto Industry’s Spending on the Election Pays Off The New York Times
- Crypto's $245 million campaign finance operation filled airwaves with ads not about crypto CNBC
- Diverse, Crypto-Friendly Candidates For Congress Won Election Night Forbes
- Crypto industry election spending tallies at least $238M, surpassing traditional giants Fox Business
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