In the 2024 election, the crypto industry significantly influenced the outcome by throwing its financial weight behind pro-crypto candidates. The industry spent over $245 million nationwide, nearly half of all corporate cash spent on the election. Crypto advocacy groups, such as Coinbase's Stand With Crypto Alliance, graded candidates on their blockchain loyalty and funded races where it mattered most. The strategy was to spend big, win big, and eliminate opposition. Super PAC Fairshake, backed by Coinbase, spent $75 million and saw success in backing winning candidates. Overall, nearly 300 pro-crypto lawmakers are heading to Congress, giving the industry unprecedented influence. Sherrod Brown, a Senate heavyweight who opposed crypto, lost to political newcomer Bernie Moreno, who received support from industry heavyweights. The crypto industry's financial muscle was flexed during the election, with prominent figures and organizations, such as Coinbase, Ripple, and the Winklevoss twins, contributing millions. The election results have already led to discussions between industry leaders and President Trump, potentially resulting in favorable policies for the crypto industry, including the appointment of a "crypto czar" and the departure of SEC Chair Gary Gensler, who targeted Coinbase and Ripple.



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