A report published by the Center for Political Accountability (CPA) states that U.S. crypto companies heavily supported President Donald Trump's reelection campaign in 2024, contributing over $144 million. However, the report warns that these companies' political spending and lack of transparency pose risks to investor confidence and the long-term viability of the industry. Coinbase and Ripple were the largest donors, with Coinbase's political action committee donating over $79 million and Ripple contributing over $63.6 million. The report also highlights the past legal issues faced by these companies with the U.S. Securities and Exchange Commission (SEC). Despite the support from crypto companies, the report asserts that unchecked political spending can result in regulatory crackdowns and decline in consumer trust. The report raises ethical questions about conflicts of interest within the Trump administration and the dangers of political leaders promoting meme coins and fraud tokens. The report concludes that greater transparency and accountability are necessary for the legitimacy of the crypto industry in the financial world.



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