Crypto industry outspends defense, pharma on political donations
2 years, 6 months ago

Crypto industry outspends defense, pharma on political donations

LA Times  

Hoping to influence regulations, cryptocurrency executives and startups are providing a fresh pool of financing for candidates heading into November’s congressional elections. That influx of cash is outpacing spending by internet giants, drugmakers and the defense industry — providing a fresh pool of financing for candidates heading into November’s congressional elections. “The industry has been under so much scrutiny, and early next year stands to be a real inflection point in Washington,” said Eric Soufer, a political consultant with Tusk Strategies who leads the firm’s crypto and fintech practice. “It’s possible you’ll see a historic investment in this election season.” In the 15 months that ended March 31, donations from people working in digital assets reached $26.3 million, according to Federal Election Commission data compiled by Bloomberg. Overall, he’s pumped in about $32 million, 75% of the industry’s total, making him the biggest individual donor other than George Soros since the start of 2021, the FEC data compiled by Bloomberg show.

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History of this topic

Trump gloats as Bitcoin tops $100,000 for the first time in history
2 weeks, 5 days ago

Trump gloats as Bitcoin tops $100,000 for the first time in history

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy President-elect Donald Trump is gloating as Bitcoin, the world’s most …

Crypto spent big on the election — now they're outlining the 'payout they’re looking for'
4 weeks ago

Crypto spent big on the election — now they're outlining the 'payout they’re looking for'

Raw Story  

NOTUS reporter Claire Heddles on Tuesday flagged a new "industry association letter" from the cryptocurrency industry to President-elect Donald Trump and Congress, which discusses their expectations for the future. In the letter from Blockchain and Associates, the group lists its demands "during your first 100 days," saying that "there are five immediate steps that can be taken to support the …

The crypto industry plowed tens of millions into the election. Now, it’s looking for a return on that investment
1 month, 1 week ago

The crypto industry plowed tens of millions into the election. Now, it’s looking for a return on that investment

CNN  

CNN — The cryptocurrency industry’s leading super PACs plowed $131 million into congressional races this election cycle to help elect dozens of pro-crypto lawmakers, while individual billionaires with crypto interests spent millions to help return Donald Trump to the White House. “As a result of this past election, we’ll have the most pro-crypto Congress that has ever been elected but …

The crypto industry plowed tens of millions into the election. Now, it’s looking for a return on that investment
1 month, 1 week ago

The crypto industry plowed tens of millions into the election. Now, it’s looking for a return on that investment

CNN  

CNN — The cryptocurrency industry’s leading super PACs plowed $131 million into congressional races this election cycle to help elect dozens of pro-crypto lawmakers, while individual billionaires with crypto interests spent millions to help return Donald Trump to the White House. “As a result of this past election, we’ll have the most pro-crypto Congress that has ever been elected but …

The Crypto Revolution comes to Washington, with eye on regulatory reform
1 month, 1 week ago

The Crypto Revolution comes to Washington, with eye on regulatory reform

Salon  

The cryptocurrency industry emerged as one of the biggest winners of the 2024 election, with 273 pro-crypto candidates winning U.S. House seats and 19 securing Senate positions, according to latest data compiled by Stand with Crypto tracker. We need your help to stay independent Subscribe today to support Salon's progressive journalism "Over those 14 years, these huge expenditures from the …

Bitcoin’s record rally: A turning point for funding justice and equality
1 month, 1 week ago

Bitcoin’s record rally: A turning point for funding justice and equality

Salon  

Bitcoin hit a new all-time high of $89,995 on Monday, increasing by $20,000 since former President Donald Trump was announced the winner of the 2024 presidential election. Related Crypto is revolutionizing philanthropy Here are five strategies of the Web3 ecosystem that offer valuable lessons: DAOs for mobilization Decentralized Autonomous Organizations are blockchain-based groups managed by smart contracts instead of traditional …

Cryptocurrency industry is spending more than any other to sway California congressional races
1 month, 3 weeks ago

Cryptocurrency industry is spending more than any other to sway California congressional races

LA Times  

A political action committee funded by cryptocurrency interests has spent nearly $2.8 million to help Rep. Michelle Steel keep her seat. A political action committee called Fairshake, funded by cryptocurrency companies and their investors, has spent more than any other industry group — nearly $2.8 million — to help vulnerable Republican incumbent Rep. Michelle Steel retain her seat in Congress. …

The Billionaire's Playground: How Money Shapes the 2024 US Election
1 month, 3 weeks ago

The Billionaire's Playground: How Money Shapes the 2024 US Election

Al Jazeera  

The 2024 US presidential election is set to be the costliest election in modern history, with billions of dollars flowing into political campaigns. The Democratic Party has benefited from this influx of cash, with Vice President Kamala Harris setting a new record for fundraising, pulling in $1 billion in three months. Despite a smaller war chest, Trump still has deep …

Betsy DeVos, who resigned Trump’s administration on January 6, pumps money into Elon Musk’s pro-Trump PAC
1 month, 3 weeks ago

Betsy DeVos, who resigned Trump’s administration on January 6, pumps money into Elon Musk’s pro-Trump PAC

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ /verifyErrors }} Betsy …

Big Oil dishes out record $54.2 million to boost GOP candidates: analysis
2 months ago

Big Oil dishes out record $54.2 million to boost GOP candidates: analysis

Raw Story  

The investigative outlet Sludge reported Thursday that the fossil fuel industry has pumped a record sum this election cycle into a pair of super PACs dedicated to securing GOP control of the House and retaking the narrowly Democratic Senate next month. Citing Federal Election Commission filings made public earlier this week, Sludge noted that oil and gas giants such as …

How crypto's $200million 2024 election bet has made digital currency a top campaign issue
2 months, 1 week ago

How crypto's $200million 2024 election bet has made digital currency a top campaign issue

Daily Mail  

Even if you don't know a blockchain from a NFT, the numbers are hard to dismiss. Influencing critical Senate and House races A leader in the push of crypto cash into the 2024 cycle has been cryptocurrency exchange Coinbase, which pumped $50 million into Fairshake and related entities, according to reports. The Ohio race for U.S. Senate has gotten much …

Trump Harris election: One corporate group has a terrifying new playbook. It could completely change what happens in November.
2 months, 2 weeks ago

Trump Harris election: One corporate group has a terrifying new playbook. It could completely change what happens in November.

Slate  

About a week before the 2022 midterms, FTX, the cryptocurrency exchange founded by billionaire wunderkind Sam Bankman-Fried, began to collapse. Fairshake, the industry’s super PAC, has raised an astonishing $203 million for the 2024 election cycle, according to an analysis of disclosures by campaign finance watchdog Open Secrets. Ohio Democratic Sen. Sherrod Brown, who has advocated for stricter regulation of …

Trump launches crypto company amid funding race with Kamala Harris
3 months, 1 week ago

Trump launches crypto company amid funding race with Kamala Harris

The Telegraph  

Donald Trump has endorsed a new cryptocurrency business as the Republican presidential nominee courts the backing of wealthy crypto donors in a funding race with Kamala Harris. Hours after an apparent attempt on his life on Monday, the former president and his sons Donald Jr and Eric revealed World Liberty Financial, a cryptocurrency project which Trump has said would “leave …

Outside spending in 2024 federal election tops $1 billion
4 months, 1 week ago

Outside spending in 2024 federal election tops $1 billion

Raw Story  

This article originally appeared in OpenSecrets. Super PACs and other outside groups that can raise and spend unlimited sums of money have poured about $1.1 billion into 2024 federal elections as of Aug. 15 — nearly twice what similar groups spent over the same period in the 2020 presidential election cycle when independent expenditures hit an all-time record. More than …

Column: Most Americans have a negative view of crypto. So why are political campaigns rushing to embrace it?
4 months, 3 weeks ago

Column: Most Americans have a negative view of crypto. So why are political campaigns rushing to embrace it?

LA Times  

Venture investors and crypto bros Marc Andreessen, left, and Ben Horowitz, whose firm has donated $44 million to a fund making donations to crypto-friendly politicians. Harris’ aides have approached leading crypto firms in quest of a “reset” of relations with the sector, according to the Financial Times. As I’ve reported before, it’s flatly contradicted by a survey from the Federal …

Pro-crypto super PACs pouring tens of millions into 2024 elections
4 months, 3 weeks ago

Pro-crypto super PACs pouring tens of millions into 2024 elections

Raw Story  

This article originally appeared in OpenSecrets. One pro-crypto super PAC launched in December 2023, Fairshake, has already spent $14.4 million to independently bolster the campaigns of crypto-friendly congressional candidates in the 2024 election cycle. On its website, Fairshake pledges to “support candidates committed to securing the United States as the home to innovators building the next generation of the internet.” …

How Republican donors are plotting to make the US a crypto superpower
5 months ago

How Republican donors are plotting to make the US a crypto superpower

The Telegraph  

While Trump has steered clear of pledging concrete policy ideas in recent months, Vance is more ideologically driven and has been described as a crypto evangelist. In a podcast on Monday, Ben Horowitz – one half of the venture capital firm Andreessen Horowitz, which has $35bn under management – said: “It’s such an important technology. This has been one of …

Donald Trump begins accepting cryptocurrency donations for presidential elections, vows to build ‘crypto army’
7 months ago

Donald Trump begins accepting cryptocurrency donations for presidential elections, vows to build ‘crypto army’

Hindustan Times  

Donald Trump 's presidential campaign said Tuesday it would begin accepting donations in cryptocurrency as part of an effort to build what it calls a “crypto army” leading up to Election Day. The Trump campaign launched a fundraising page that allows “any federally permissible donor the ability to give" to its political committees using any crypto asset accepted through the …

George Soros donates $60M to Democrats' war chest
8 months, 1 week ago

George Soros donates $60M to Democrats' war chest

Daily Mail  

The billionaire George Soros has donated $60 million to Democracy PAC, a super political action committee he uses to support Democrats, the second-biggest campaign donation in the 2024 election cycle. Democracy PAC spread $21 million to a dozen super PACs in the first quarter, including $4 million in donations to both the House Majority PAC and the Senate Majority PAC. …

Feds expand their quest to claw back crypto-bro cash from big-time politicians
1 year, 3 months ago

Feds expand their quest to claw back crypto-bro cash from big-time politicians

Raw Story  

A government agency best known for hunting down federal fugitives has become wildly successful at capturing another kind of target — money from political campaigns. Raw Story first reported in April that the Department of Justice sent a letter about Bankman-Fried allegedly making fraudulent political donations to members of Congress’ campaign committees. RELATED ARTICLE: Why big-time politicians are surrendering gobs …

Political leaders who received donations from doomed crypto firm FTX urged to repay the funds
1 year, 10 months ago

Political leaders who received donations from doomed crypto firm FTX urged to repay the funds

Daily Mail  

Hundreds of politicians who received donations from doomed crypto firm FTX have been asked to return the money so it can repay its investors or face the possibility of being sued. FTX said in a statement it was sending 'confidential messages' to political leaders after the firm, under leadership of disgraced founder Sam Bankman-Fried, made upwards of $40 million in …

Trump struggles to fundraise in early weeks of 2024 campaign
1 year, 10 months ago

Trump struggles to fundraise in early weeks of 2024 campaign

CNN  

CNN — Former President Donald Trump’s political operation brought in $9.5 million in the roughly six weeks after he announced his latest White House bid, according to a source familiar with the fundraising numbers. The haul is smaller than the nearly $11.8 million raised by Trump entities in the six weeks before the Republican’s November 15 campaign announcement, underscoring the …

U.S. lawmakers who took FTX donations under pressure to return funds
1 year, 11 months ago

U.S. lawmakers who took FTX donations under pressure to return funds

The Hindu  

As creditors and lawmakers make sense of the collapse of the FTX crypto exchange in late 2022, U.S. Congress members who received donations from FTX’s ex-CEO Sam Bankman-Fried or those associated with him have come under pressure to return the money. The crypto news outlet Coin Desk has reached out to senators and House members to learn what they plan …

Democrats set aside donations from ex-FTX CEO Bankman-Fried
2 years ago

Democrats set aside donations from ex-FTX CEO Bankman-Fried

Associated Press  

WASHINGTON — The three primary committees charged with electing Democrats said Friday that they would set aside more than $1 million in donations this election cycle from disgraced crypto mogul Samuel Bankman-Fried, who is accused of making tens of millions of dollars in illegal campaign donations. The DCCC is setting aside its $250,000 it got from Bankman-Fried and said it …

Sam Bankman-Fried was No. 2 top donor to Democrats, only behind Soros
2 years, 1 month ago

Sam Bankman-Fried was No. 2 top donor to Democrats, only behind Soros

Live Mint  

FTX founder Sam Bankman-Fried and members of his team rose from relative obscurity in Washington to be among the biggest donors in US politics, contributing more than $70 million to election campaigns in less than 18 months. Mr. Bankman-Fried personally gave $40 million to politicians and political-action committees ahead of the 2022 midterm elections, mostly to Democrats and liberal-leaning groups, …

The FTX fallout and what’s next for crypto?
2 years, 1 month ago

The FTX fallout and what’s next for crypto?

The Hindu  

The story so far: On November 11, FTX filed for bankruptcy protection. One of the world’s biggest crypto exchanges collapsed after reports emerged about the platform’s CEO Sam Bankman-Fried using customers’ deposits to trade on behalf of FTX’s sister firm Alameda Research. Mr. Bankman-Fried admitted he was ignorant of his platform’s true liquidity and leverage levels when customers requested for …

Sam Bankman-Fried: After spending big in primaries, the crypto billionaire says he won't help Democrats win the midterms
2 years, 2 months ago

Sam Bankman-Fried: After spending big in primaries, the crypto billionaire says he won't help Democrats win the midterms

Slate  

When Sam Bankman-Fried was asked during a podcast earlier this year how much money he might give to political candidates over upcoming election cycles, he offered an eye-popping ballpark number. And though he did not pledge to fund Democrats exclusively, he said his top causes included pandemic preparedness and “sane governance,” issues where Republicans notably tend to be weak.. Bankman-Fried …

Congress’ leading crypto skeptic is a Southern California congressman
2 years, 3 months ago

Congress’ leading crypto skeptic is a Southern California congressman

LA Times  

Rep. Brad Sherman’s views on cryptocurrencies set him apart from most of his colleagues in Congress. “I don’t think we’re going to get anytime soon,” Sherman told The Times, noting that the crypto industry is a powerful player when it comes to campaign donations. “So they turned to bitcoin because it’s been remarkably potent against both sorts of evils.” Many …

A Crypto Billionaire Shattered the Primary Spending Record to Back a Candidate Who Is Getting Clobbered
2 years, 7 months ago

A Crypto Billionaire Shattered the Primary Spending Record to Back a Candidate Who Is Getting Clobbered

Slate  

With a significant lead in the Democratic primary that will likely determine who represents Oregon’s newly created 6th District in the House, state Rep. Andrea Salinas appears headed for a comfortable victory over crypto-backed political newcomer Carrick Flynn, who has conceded to Salinas. As an investigation by Oregon Public Broadcasting last month laid out, Sam Bankman-Fried—who lives in the Bahamas—seems …

Crypto comes to Washington. Will the millions buy influence?
2 years, 7 months ago

Crypto comes to Washington. Will the millions buy influence?

Associated Press  

WASHINGTON — Erin Houchin braced for the worst when a mysterious group started buying television ads last month in her highly competitive southern Indiana congressional race. American Dream Federal Action, a super political action committee financed by a cryptocurrency CEO, saturated the district with ads promoting Houchin as a “Trump Tough” conservative who would “stop the socialists in Washington.” That …

Meet the Republican congressman cashing in on cryptocurrency
3 years, 7 months ago

Meet the Republican congressman cashing in on cryptocurrency

Salon  

Rep. Mark Green, R-Tenn., made history last month as the first congressman to cash in on the cryptocurrency Dogecoin's wild ride — making two purchases between $1,000 and $15,000 each, according to public disclosure forms. The investments added to Green's already hefty crypto portfolio, which contains Basic Attention Token, CELO, EOS, Etherium, and Stellar Lumens, according to an analysis compiled …

Businesses rethink political donations after Capitol siege
3 years, 11 months ago

Businesses rethink political donations after Capitol siege

Associated Press  

Businesses are rethinking political contributions in the wake of the deadly Capitol siege by President Donald Trump’s supporters on Wednesday. In a memo to employees Friday, Citi’s head of global government affairs Candi Wolff said “we want you to be assured that we will not support candidates who do not respect the rule of law.” “We support engaging with our …

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