CandleFocus Polymarket fuels crypto industry's $1.2 billion election involvement, political donations up over 10x
2024-09-13
Author: Content Editor
The crypto industry has invested over $1.2 billion in the 2024 US presidential election, with Polymarket being the largest contributor. The industry has made political donations of $190 million, a significant increase from past election cycles. Notable contributors include Marc Andreessen, Ben Horowitz, the Winklevoss twins, and Ripple executives. Pro-crypto political action committees have also gained momentum, with the Fairshake PAC raising $161 million. Polymarket, a decentralized betting platform, has facilitated over $1.1 billion in bets on the election, while politifi tokens have amassed a market cap of $440 million. Additionally, former President Donald Trump has released NFTs, generating over $9 million in sales.
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