Cryptocurrency industry leaders have poured $78 million into super PACs aimed at bolstering and growing the ranks of crypto-friendly lawmakers on Capitol Hill, Axios has learned.
Why it matters: The immense figure — raised in just three months with nearly a year to go before election day — puts crypto on track to rival far more established industries in terms of political giving.
- Crypto-focused super PAC Fairshake, along with affiliated PACs Protect Progress and Defend American Jobs, will report $78 million raised in the final three months of 2023, the groups say.
- The money comes from a coalition of crypto companies, executives and investors, including Coinbase, Andreessen Horowitz and the Winklevoss twins.
- The sum also represents a collective effort to detoxify crypto’s image in the campaign fundraising world after the fall of FTX founder and prolific political donor Sam Bankman-Fried.
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