Thecryptoindustrycontributedover$200Mto2024U.S.presidentialcandidates,aimingtoinfluencefutureregulatorypolicies.
Trump’scampaignreceivedmajorsupportfromcryptoleaders,including$6.4MfromBitcoininvestorHowardLutnickand$2MfromtheWinklevosstwins.
ElonMusk’sAmericaPAChasbackedTrumpwith$72M,showingalignmentwithhispoliciesandboostingtheroleofcryptointheelection.
Thecryptocurrencysectorhasmadeasignificantmarkonthe2024U.S.presidentialrace,contributingover$200milliontosupportkeycandidates.NewfiguresfromtheFederalElectionCommission(FEC)revealthatthesecontributionsarespreadacrosspoliticalactioncommittees(PACs),candidates,andvariouspoliticalorganizations.Thisheavyfinancialbackinghighlightsthecryptoindustry’sambitiontoshaperegulatorypolicieswithinthenextadministration.
🚨NEW:WithjustoneweekoutfromElectionDay,we’regettingsomenew#cryptoelectionspendingnumbers.Accordingtorecent@FECfilings,thecryptoindustryhasnowdonatedwellover$200milliontovariousPACs,candidatesandpoliticalorganizations.Moretocomeonthis.…
—EleanorTerrett(@EleanorTerrett)October29,2024
SubstantialContributionstoTrump’sCampaign
Notably,DonaldTrumphasdrawnsubstantialfinancialsupportfromprominentfigureswithinthecryptocurrencyindustry.BitcoininvestorandTetheradvocateHowardLutnickalonehascontributed$6.4milliontoTrump’scampaign.TheWinklevosstwins,foundersoftheGeminiexchange,havecollectivelyaddedanother$2.04million.
Furthermore,thesecontributionsemphasizethelevelofconfidencethecryptosectorhasinTrump’sabilitytoaddressitsinterests.FurthersupportforTrumphascomefromKrakenfounderJessePowell,whocontributed$844,943,alongwithBijanTehrani,co-founderofStake,whodonated$852,396.
Additionally,JPRichardson,CEOofExodus,andentrepreneurGaryCardonehavedonatedamountscloseto$850,000each.Thesedonationsmarkastrongshowingofthecryptosector’ssupportforTrump’scampaign,suggestingtheindustryseesvalueinapotentialTrumpadministrationinaddressingdigitalassetregulation.
HarrisGainsCryptoSupportDespiteFewerContributions
Inaddition,whileTrumphasattractedthelion’sshareofcrypto-relatedcontributions,VicePresidentKamalaHarrishasalsogainednotablesupportfromthecryptoindustry.Rippleco-founderChrisLarsentopsthelistofhercrypto-relateddonors,contributing$10milliontohercampaign.
Moreover,ThissubstantialdonationreflectsaconsiderablelevelofconfidenceinHarrisfromakeyplayerwithinthecryptoworld.TechinvestorVinodKhoslaandCoinbase’searlyinvestorReidHoffmanhavealsobackedHarris,withKhoslacontributing$1millionandHoffmanadding$250,000.
Comparatively,whileHarris’scontributionsfromthecryptosectorremainsmallerincomparisontoTrump’s,shehasneverthelessgarneredsupportfromhigh-profileblockchainandtechinvestors.ThissupportforHarrisunderscorestheinfluencethatthecryptosectorseekstoexertovercandidatesfrombothsidesofthepoliticalaisle.
Musk’sAmericaPACShowsAlignmentwithTrump
ElonMusk,theworld’srichestindividual,hasalsoemergedasasignificantplayerinTrump’scampaign.MuskcreatedAmericaPAC,whichhassincechanneled$72milliontowardTrump’sre-electioneffortsbetweenJulyandSeptemberalone.Musk’sfinancialbackingsignifiesaclearalignmentwithTrump’spoliciesandpositionswithintheRepublicanParty.
Therefore,asElectionDayapproaches,thesurgeincryptodonationshighlightsthestrategicinfluencetheindustryhopestosecureinshapingfuturedigitalassetregulations.WithmajorfinancialplayersaligningwithbothTrumpandHarris,thecryptosector’scontributionscouldimpactpoliciesregardingcryptocurrencyandblockchaininthenextadministration.
cryptonewsland.com