Crypto Money Still Matters for the Midterms
The industry is a surprising top spender in the races.
TL;DR
- The crypto industry has invested $206 million in this year's midterm elections, more than any other corporate sector.
- Fairshake, a prominent crypto super PAC, has a strong record, with 50 out of 54 backed candidates winning their races.
- Despite declining public interest and trust, crypto companies are spending heavily to maintain political influence.
- Political candidates are increasingly mentioning 'crypto' in ads, often in opposition to crypto-backed opponents.
- Historical context shows crypto's profile fluctuated with market booms and busts, and the impact of figures like Sam Bankman-Fried and Donald Trump.