Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Cryptocurrency»Crypto Lobbyists Are Quietly Influencing 2024 Election: This Is Their Playbook – Grayscale Bitcoin Mini Trust (BTC) Common units of fractional undivided beneficial interest (ARCA:BTC)
    Cryptocurrency

    Crypto Lobbyists Are Quietly Influencing 2024 Election: This Is Their Playbook – Grayscale Bitcoin Mini Trust (BTC) Common units of fractional undivided beneficial interest (ARCA:BTC)

    October 16, 20243 Mins Read


    The cryptocurrency industry emerged as a major player in the 2024 U.S. election cycle.

    What Happened: According to recent reports from CNBC and Politico, crypto-linked political action committees (PACs) and donors have contributed significant sums to both Republican and Democratic candidates, with a particular focus on key congressional races.

    A pro-Donald Trump PAC, the Trump 47 Committee, raised approximately $7.5 million in cryptocurrency donations since early June, CNBC reported on Wednesday.

    These contributions include popular cryptocurrencies like Bitcoin BTC/USD, Ethereum ETH/USD, XRP XRP/USD and stablecoins like USDC USDC/USD. The donations come from a diverse group of supporters across more than 15 states, including battleground regions.

    Also Read: Trump Falls 3 Points Behind Harris In New Poll, Economic Worries Dominate Voter Concerns: Report

    Notable contributors include David Bailey, CEO of BTC Inc., the parent company of Bitcoin Magazine.

    Bailey, who donated over $498,000 in Bitcoin, is part of a group that helped shift Trump’s stance on cryptocurrency from skepticism to enthusiasm.

    Other significant donors include Mike Belshe, CEO of BitGo, and Stuart Alderoty, Ripple’s legal chief, who contributed $300,000 in XRP.

    On the Democratic side, Ripple co-founder Chris Larsen donated $1 million worth of XRP to Future Forward, a super PAC supporting Vice President Kamala Harris‘s presidential bid. This highlights the non-partisan nature of crypto industry support, with donations flowing to candidates on both sides of the aisle.

    Benzinga Future of Digital Assets conference

    Why It Matters: While the crypto industry is investing heavily in political campaigns, their messaging rarely mentions cryptocurrency directly.

    Politico reported on Monday that crypto-backed super PACs like Defend American Jobs, Protect Progress, and Fairshake have collectively spent $125 million on independent expenditures this cycle, accounting for 8% of all outside spending in congressional races.

    However, their ads focus on general issues such as the economy, border security and candidates’ biographies rather than crypto-specific topics.

    The industry’s approach reflects a strategic decision to support candidates who are favorable to crypto interests without necessarily making cryptocurrency a central campaign issue.

    Many of the backed candidates have supported key legislative priorities for the crypto industry, such as the bill to establish regulatory authority for different classes of digital assets.

    The surge in crypto-related political spending comes as the industry seeks to influence future regulations and gain more mainstream acceptance. Senator Elizabeth Warren (D-Mass.) and her Republican challenger John Deaton sparred over crypto-related questions in their debate on Tuesday evening.

    Read Next: 

    Image via Unsplash

    This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

    Market News and Data brought to you by Benzinga APIs

    © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Sarb weighs stablecoins and CBDCs as digital money gains global momentum

    Cryptocurrency

    Ohio brother, sister reportedly lose over $1M in cryptocurrency investment scam

    Cryptocurrency

    A beginner’s guide to cryptocurrency

    Cryptocurrency

    Tx24 Cryptocurrency Exchange Unveils Record-Breaking Transactions Speed

    Cryptocurrency

    AWALL VR announces official launch, merging advertising with cryptocurrency-powered video engagement

    Cryptocurrency

    Government warns iris scanning for digital currency risks data breaches

    Cryptocurrency
    Leave A Reply Cancel Reply

    Top Picks
    Precious Metal

    Q-Gold Resources Ltd. annonce un programme d’exploration stratégique axé sur l’ancien puits Foley de son projet Mine Centre en Ontario

    Precious Metal

    CPW gives up on finding fifth wolf pup after 19 nights

    Commodities

    Australian Shares Slip As Banks And Tech Offset Gains In Commodities

    Editors Picks

    The Sports Circus Strikes Gold With An Asset-Backed Digital Currency Alliance

    July 16, 2025

    Cloud Mining in 2025: A Practical Way to Earn Cryptocurrency

    August 15, 2025

    A new property programme presented by Helen Skelton comes to BBC iPlayer and BBC Two

    May 12, 2025

    Next Cryptocurrency to Explode, 4 March — Pi, Ultima, PAX Gold, ACT I: The AI Prophecy

    March 4, 2025
    What's Hot

    Qonto passe à l’offensive pour devenir une vraie banque

    July 3, 2025

    Cryptocurrency mistakenly tied to Eric Trump gains $155 million in six hours

    August 9, 2024

    Military, AI investments to undergird Pa. economy, says state’s GOP

    August 20, 2025
    Our Picks

    Glasgow tops best place to sell a property in UK list

    April 2, 2025

    From Cloud to Concrete: How Explosive Data Center Demand is Redefining Commercial Real Estate

    August 25, 2025

    Bitcoin prices surge past $69,000: What’s driving the rally?

    October 21, 2024
    Weekly Top

    Nearly half of UK homebuyers are confident with building targets

    August 28, 2025

    US Tariff Turmoil and the Performance of Copper Pipe & Tube Imports and Exports

    August 28, 2025

    Clarkson’s Farm inspires rise in UK agricultural students

    August 27, 2025
    Editor's Pick

    NAS Investment Solutions Unveils New Investment Opportunity with Acquisition of North Houston Multifamily Townhome Property

    August 13, 2024

    La première place pour les électriques à l’EcoGreen Energy 2025

    June 21, 2025

    Soaring gold prices test mettle of luxury watch brands

    May 8, 2025
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.