Cryptocurrency industry spent over $149 million on political activities to influence regulations, elect supportive lawmakers, and promote a bill favoring the industry. This strategy led to the House passing a bill backed by the industry. Fairshake PAC and affiliates raised over $100 million for the 2024 election, supporting crypto-friendly legislation. TD Cowen believes this financial influence could aid in passing the stablecoin bill this year. Additionally, crypto super PACs received a $25 million boost.
Crypto super PACs get $25M boost https://t.co/JFO6dVTtdo
POLITICAL FUNDING COULD BOOST STABLECOIN BILL PASSAGE: TD COWEN - Fairshake PAC and affiliates have amassed over $100 million for the 2024 election, signaling strong financial support for crypto-friendly legislation. - TD Cowen suggests this financial influence may have led to… https://t.co/1fwUR8PfJR https://t.co/OkS2PElQsg
[THE BLOCK] Political spending may boost chances of passing #stablecoin bill this year: TD Cowen
Political spending may boost chances of passing stablecoin bill this year: TD Cowen https://t.co/y0RFMyg56S
NEW: Crypto spent more than $149 million to defeat tough new regulation, elect allies to Congress and blast potential foes with super PAC ads, a strategy culminating last week with House passage of a bill backed -- and drafted -- by industry. ICYMI: https://t.co/ez7EvXKWBe https://t.co/OgYgAy694D