Crypto’s $119MM Election Spending Spree

‍

This election cycle's biggest corporate spender isn’t big pharma or oil companies. 

‍

It’s crypto companies.

‍

The crypto industry accounts for 48% of corporate donations to political action committees in 2024, with Coinbase and Ripple accounting for over 80% of the donations.

‍

A Bipartisan Approach: Interestingly, crypto is breaking the tradition of siding with one party or another; instead, it is supporting or opposing candidates on both sides of the aisle, depending on their crypto views. 

‍

• In the House, crypto is endorsing 9 Democrats and 9 Republicans
• In the Senate, crypto is endorsing 2 Democrats and 1 Republican

‍

Coinbase and Ripple are especially active since they are both in high-profile battles with the SEC over the legitimacy of their businesses.

‍

Crypto isn’t picking sides—it’s buying them.