{"id":1128,"date":"2024-05-07T23:00:02","date_gmt":"2024-05-07T23:00:02","guid":{"rendered":"https:\/\/cryptd.in\/crypto-industry-flexes-financial-muscle-with-100m-super-pac-war-chest-for-2024-us-elections\/"},"modified":"2024-05-07T23:00:02","modified_gmt":"2024-05-07T23:00:02","slug":"crypto-industry-flexes-financial-muscle-with-100m-super-pac-war-chest-for-2024-us-elections","status":"publish","type":"post","link":"https:\/\/cryptd.in\/el\/crypto-industry-flexes-financial-muscle-with-100m-super-pac-war-chest-for-2024-us-elections\/","title":{"rendered":"Crypto Industry Flexes Financial Muscle With $100M Super PAC War Chest For 2024 US Elections"},"content":{"rendered":"

A recent report by OpenSecrets.org revealed that cryptocurrency industry Super Political Action Committees (PACs) have accumulated a staggering $102 million war chest to exert their influence on the upcoming 2024 US congressional elections.\u00a0<\/p>\n

The data, compiled by Public Citizen, highlights the sector\u2019s concerted efforts to sway elections in favor of pro-crypto candidates and impede regulatory measures <\/a>to ensure\u00a0compliance within the industry.<\/p>\n

Crypto Billionaires Lead Funding Surge<\/h2>\n

Rick Claypool, a research director for Public Citizen and author of the \u03ad\u03ba\u03b8\u03b5\u03c3\u03b7<\/a>, emphasized that a fresh wave of crypto corporations, executives, and their allies have returned to the political landscape, pouring millions of dollars into campaigns.\u00a0<\/p>\n

Their objectives reportedly include influencing elections, supporting cryptocurrency-friendly candidates, and obstructing accountability measures to enforce industry regulations.<\/p>\n

The report further discloses that over half of the funds raised originate from direct corporate expenditures, primarily attributed to Coinbase and Ripple Labs. <\/p>\n

The remaining contributions come from billionaire crypto executives and venture capitalists, including significant sums from the founders of venture capital firm <\/a>Andreessen Horowitz, the Winklevoss twins, and Coinbase CEO Brian Armstrong.<\/p>\n

Of the eight corporate Super PAC donors, four have either settled or faced charges by the US Securities and Exchange Commission (SEC) for alleged violations of securities laws.\u00a0<\/p>\n

According to the report, the largest crypto Super PAC, Fairshake Political Action Committee, has resorted to running political ads<\/a> that deliberately avoid any mention of cryptocurrencies, employing a \u201cmanipulative strategy\u201d to sway voters.<\/p>\n

The report also highlights the intervention of crypto Super PACs in primary races for the 2024 elections. Out of the six completed primaries, only one crypto-backed candidate suffered defeat.\u00a0<\/p>\n

However, eleven primary races involving crypto-backed candidates are still ongoing. Moreover, the crypto Super PACs have pledged to allocate funds to Senate races in Ohio and Montana, two crucial battleground states in the general election.<\/p>\n

Voters In \u2018Swing States\u2019 Demand Reasonable Regulations<\/h2>\n

A separate study <\/a>conducted by Digitial Currency Group (DCG), a global investor in blockchain companies, found that more than 20% of registered voters in key \u201cswing states,\u201d or states where support for political parties is divided, consider digital assets an important issue in the 2024 election.\u00a0<\/p>\n

The survey, conducted in partnership with The Harris Poll and encompassing Michigan, Ohio, Montana, Pennsylvania, Nevada, and Arizona, reveals that a pro-crypto stance can be \u201cadvantageous\u201d for policymakers and candidates. It emphasizes the desire among voters for \u201creasonable regulations\u201d that protect consumers without stifling innovation.<\/p>\n

Julie Stitzel, Senior Vice President of Policy at DCG<\/a>, highlighted the poll\u2019s findings, stating that the digital asset industry is at the forefront of swing state voters\u2019 minds and that a positive stance on virtual assets can benefit policymakers and candidates.\u00a0<\/p>\n

Kristin Smith, CEO of the Blockchain Association, echoed this sentiment, emphasizing the growing relevance of digital assets in shaping the electoral landscape in 2024.<\/p>\n

\u0395\u03b9\u03ba\u03cc\u03bd\u03b1 \u03b1\u03c0\u03cc Shutterstock, \u03b4\u03b9\u03ac\u03b3\u03c1\u03b1\u03bc\u03bc\u03b1 \u03b1\u03c0\u03cc TradingView.com\u00a0<\/p>","protected":false},"excerpt":{"rendered":"

A recent report by OpenSecrets.org revealed that cryptocurrency industry Super Political Action Committees (PACs) have accumulated a staggering $102 million war chest to exert their influence on the upcoming 2024 US congressional elections.\u00a0 The data, compiled by Public Citizen, highlights the sector\u2019s concerted efforts to sway elections in favor of pro-crypto candidates and impede regulatory […]<\/p>\n","protected":false},"author":0,"featured_media":1129,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1128","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds"],"yoast_head":"\nCrypto Industry Flexes Financial Muscle With $100M Super PAC War Chest For 2024 US Elections - cryptd.in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptd.in\/el\/crypto-industry-flexes-financial-muscle-with-100m-super-pac-war-chest-for-2024-us-elections\/\" \/>\n<meta property=\"og:locale\" content=\"el_GR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto Industry Flexes Financial Muscle With $100M Super PAC War Chest For 2024 US Elections - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"A recent report by OpenSecrets.org revealed that cryptocurrency industry Super Political Action Committees (PACs) have accumulated a staggering $102 million war chest to exert their influence on the upcoming 2024 US congressional elections.\u00a0 The data, compiled by Public Citizen, highlights the sector\u2019s concerted efforts to sway elections in favor of pro-crypto candidates and impede regulatory […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptd.in\/el\/crypto-industry-flexes-financial-muscle-with-100m-super-pac-war-chest-for-2024-us-elections\/\" \/>\n<meta property=\"og:site_name\" content=\"cryptd.in\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-07T23:00:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptd.in\/wp-content\/uploads\/2024\/05\/shutterstock_download-7-2-Hc1cJT.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"390\" \/>\n\t<meta property=\"og:image:height\" content=\"260\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"\u0395\u03ba\u03c4\u03b9\u03bc\u03ce\u03bc\u03b5\u03bd\u03bf\u03c2 \u03c7\u03c1\u03cc\u03bd\u03bf\u03c2 \u03b1\u03bd\u03ac\u03b3\u03bd\u03c9\u03c3\u03b7\u03c2\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 \u03bb\u03b5\u03c0\u03c4\u03ac\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/cryptd.in\\\/crypto-industry-flexes-financial-muscle-with-100m-super-pac-war-chest-for-2024-us-elections\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/crypto-industry-flexes-financial-muscle-with-100m-super-pac-war-chest-for-2024-us-elections\\\/\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"Crypto Industry Flexes Financial Muscle With $100M Super PAC War Chest For 2024 US Elections\",\"datePublished\":\"2024-05-07T23:00:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/crypto-industry-flexes-financial-muscle-with-100m-super-pac-war-chest-for-2024-us-elections\\\/\"},\"wordCount\":482,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/crypto-industry-flexes-financial-muscle-with-100m-super-pac-war-chest-for-2024-us-elections\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cryptd.in\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/shutterstock_download-7-2-Hc1cJT.jpeg\",\"articleSection\":[\"Feeds\"],\"inLanguage\":\"el\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/cryptd.in\\\/crypto-industry-flexes-financial-muscle-with-100m-super-pac-war-chest-for-2024-us-elections\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/cryptd.in\\\/crypto-industry-flexes-financial-muscle-with-100m-super-pac-war-chest-for-2024-us-elections\\\/\",\"url\":\"https:\\\/\\\/cryptd.in\\\/crypto-industry-flexes-financial-muscle-with-100m-super-pac-war-chest-for-2024-us-elections\\\/\",\"name\":\"Crypto Industry Flexes Financial Muscle With $100M Super PAC War Chest For 2024 US Elections - 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