US congressional races where crypto is hoping for big payoffs
Nov 8 (Reuters) – The cryptocurrency industry, including heavyweights like Coinbase and Ripple, spent more than $119 million backing pro-crypto U.S. congressional candidates, hoping to boost those who would pass crypto-friendly bills to promote digital assets.
The effort succeeded on Tuesday, with many of the industry’s chosen candidates winning their races, potentially ushering in a Congress poised to champion crypto like never before. Much of the sector’s spending in 2024 came from supercharged political action committees, which can spend unlimited amounts of money. Fairshake, one of the most prominent PACs dedicated to supporting candidates with favorable views of crypto, spent more than $40 million during this election cycle,…
