The cryptocurrency sector is spending big to lobby in Washington, and the industry’s political machine held nearly $130 million, as lawmakers and the White House negotiate a signature legislative priority.

Coinbase Inc., the Solana Policy Institute, Blockchain Association, and other top crypto companies and industry groups spent $8.6 million on federal lobbying in the first half of the year, according to a Bloomberg Government analysis of lobbying disclosures due late Monday. Those same companies and groups spent $7.4 million on federal lobbying in the first half of last year, by comparison.

Coinbase spent $2.2 million on lobbying this year, …