- Crypto-backed Super PACs have raised over $102 million in view of the upcoming US elections.
- Crypto companies are moving to aid policies in favor of digital assets.
- Crypto Super PACs anticipate the November elections in Ohio and Montana.
As the US elections approach, crypto political action committees (PACs) have raised more than $102 million to support crypto-friendly political candidates, according to a Public Citizen report on Monday.
Crypto PACs raise heavy sums to support pro-crypto candidates
Crypto-backed Super PACs have raised over $102 million in view of the upcoming US elections. This was revealed in a recent report by Public Citizen on Monday. This is the first time a Super PAC has raised that amount of money, according to the report, citing data from transparency group Open Secrets.
The money raised shows the general interest of crypto executives, corporations, and supporters in their fight to secure the cryptocurrency industry following the growing rate of lawsuits from the Securities & Exchange Commission (SEC) and other law enforcement agencies.
The report states that more than half of the $102 million raised by the PACs comes from direct crypto corporations, specifically Coinbase and Ripple. These two are among eight other corporate super PACs, of which four have either settled or are facing lawsuits from the SEC.
The rest of the funders are billionaires and venture capitalists, including Andreessen Horowitz, who raised $11 million, the Winklevoss twins with $5 million, and $1 million from Coinbase CEO Brian Armstrong.
The report further states that only one of the six primary crypto candidates backed by crypto PACs in 2024 has lost. The remaining 11 primary elections still have crypto-backed candidates.
Also read: Robinhood gets SEC warning against crypto unit for alleged violation of Securities Act
Crypto Super PACs are looking to the November elections in Ohio and Montana and have pledged to spend more on these two political battlegrounds for Senate offices.
Crypto PACs would seek to tilt the elections in favor of pro-crypto candidates as they fight to safeguard the crypto industry from rigorous policies.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
AI tokens to watch for: TAO, NEAR, ICP surge amid Google, Meta investment pledges
Artificial Intelligence (AI) tokens such as Bittensor (TAO), Near Protocol (NEAR), and Internet Computer (ICP) surged on Tuesday with Trump’s energy and AI innovation push. The investment pledges were made by American tech giants, including Google and Meta.
Trump strikes deal to unblock crypto bills in House, GENIUS Act set for vote
Donald Trump announced on Wednesday that 11 of the 12 House representatives have agreed to support the GENIUS Act, which outlines a regulatory framework for stablecoins. The bill could face a full vote as early as Wednesday.
Top Crypto Gainers: ENS, CRV, SEI – Bulls eye further gains amid breakout runs, golden crossovers
The broader cryptocurrency market maintains bullish momentum, with altcoins such as Ethereum Name Service (ENS), Curve DAO (CRV), and Sei (SEI) extending gains amid Bitcoin (BTC) slipping below $118,000.
Crypto Week in jeopardy as House lawmakers fail to pass procedural motion
Lawmakers denied a procedural move that aimed to initiate formal deliberations on three cryptocurrency-related bills, including the GENIUS stablecoin, the CLARITY, and Anti-CBDC bills, which form the basis for the House Crypto Week.
Bitcoin: BTC hits new all-time high and enters price discovery mode
Bitcoin price prints a new all-time high near $118,900 on Friday, entering uncharted territory as bullish momentum accelerates. The surge in BTC was supported by rising corporate and institutional demand, with spot Bitcoin ETFs recording a total of $1.69 billion this week as of Thursday.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.