U.S. Crypto Industry Raises Approximately $193 Million for Midterm Elections

Odaily News The U.S. crypto industry has raised approximately $193 million for the upcoming midterm elections, setting a new record in the related field. The Fairshake Political Action Committee (PAC) disclosed that this round of fundraising includes $25 million each from Coinbase and Ripple, and about $24 million from a16z, making it one of the most financially powerful political forces in the United States.

It is reported that in the last election cycle, Fairshake and its affiliated organizations spent over $130 million to support pro-crypto candidates. Additionally, Gemini co-founders the Winklevoss brothers donated approximately $21 million worth of Bitcoin to the Digital Freedom Fund PAC. Another super PAC, with a Cantor Fitzgerald executive serving as treasurer, also stated it has raised about $100 million to support candidates with pro-crypto stances. (Financial Times)