The crypto industry attracted significant attention in the 2024 U.S. congressional elections with its substantial investments totaling $119 million, making it the largest corporate sponsor of this election cycle. According to a report by Public Citizen, the crypto sector accounted for nearly half of all corporate donations in this year’s elections. Leading contributors included Coinbase and Ripple, which collectively directed more than $95 million into political committees supporting crypto-friendly candidates and opposing industry critics.
This financial contribution is unprecedented and underscores the growing influence of the cryptocurrency industry on U.S. politics. The report notes that such spending represents a significant leap compared to previous election cycles, making the crypto industry the second-largest corporate group in election spending, behind only the fossil fuel industry. The upcoming presidential elections are also becoming increasingly intriguing, as candidates’ stances on the crypto industry and its future become a key issue. Consequently, crypto enthusiasts and leading industry companies are paying close attention to this matter, including through financial contributions.
