Crypto industry spent big during the 2024 election. How it might impact Washington.
Fresh off crypto’s success in the 2024 election and with the value of cryptocurrencies like Bitcoin and XRP soaring, Brad Garlinghouse, CEO of the crypto company Ripple, said his company has already contributed $25 million towards an industry super PAC with an eye toward the 2026 midterm elections.
Crypto companies made a third of all direct corporate contributions to super PACs during the 2024 election. Of the 29 Republicans and 33 Democrats the industry backed, 85% won. Garlinghouse sees it as a major victory.
“People are like, “Why did these companies come together and organize and say, ‘This matters’?” Garlinghouse said. “And it’s a reaction to a war on crypto.”
A war on crypto
Garlinghouse said the Securities and Exchange…
