Crypto’s $85 Million Bet on 2024 Election Influence

The crypto community is strategically rallying, gathering an impressive $85 million war chest for the 2024 election. This financial muscle flexing signifies the industry’s quest for a firm footing in the political landscape. With substantial investments flowing into bitcoin ETFs, the leap into political action committees marks a bold new frontier.

52M Americans own crypto.They’re bipartisan, younger and more diverse than the US population in total. Over $85 million has been raised and over 280,000 advocates mobilized 🛡️ to put crypto on the ballot in 2024.

— Coinbase 🛡️ (@coinbase) January 31, 2024

Key Players and Pioneering Moves

Fairshake, alongside its affiliates Protect Progress and Defend American Jobs, leads the charge with a $6 million boost this year, elevating the fund to $85 million. Coinbase emerges as a titan, contributing a whopping $24.5 million. Not far behind, Andreessen Horowitz and Ripple each inject $20 million into the pot, showcasing the heavyweight backing this initiative enjoys.

Electric Capital’s recent $500,000 donation highlights the growing consortium of believers in crypto’s political influence. Josh Vlasto, representing Fairshake, encompasses the sentiment, stating, “Crypto is here to stay.” 

This rallying cry underscores the commitment to ensuring the crypto community’s voice resonates in the corridors of power.

Moreover, the strategy extends beyond financial contributions. Coinbase’s initiative, Stand With Crypto, rapidly mobilizes a grassroots army of 275,000 advocates poised to champion crypto-friendly policies across key districts.

As the 2024 election horizon draws closer, the crypto sector’s bold foray into political advocacy heralds a transformative era. With heavyweights like Coinbase and Andreessen Horowitz at the helm, is a political force.

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2024-01-31 19:00