Cryptocurrency Companies Accelerate Lobbying Activities for the US Midterm Elections!

Cryptocurrency companies’ lobbying activities continue before the midterm elections. CEO of FTX Sam Bankman-Fried He announced that he was donating to Republicans and Democrats.

FTX CEO Sam Bankman-Fried Announces Supporting Bipartisan Politicians Who Are Positive to Cryptocurrencies

Ahead of the US midterm elections, the cryptocurrency industry continues its political spending to shield itself from regulatory pressures with a more positive Congress.

Many digital asset companies and executives now have FTX Trading Ltd. including the company GMI PAC Supports political action committees, including

According to campaign contributions, FTX Trading Ltd. Democrat Megadonor, George Soros and cardboard box maker from Uline became the third largest source of donations after

Authorities are increasingly scrutinizing crypto issuers and lending platforms for allegedly failing to comply with money laundering laws designed to protect investors.

In recent years, the Securities and Exchange Commission (SEC) has issued close to 100 sanctions against crypto entities.

But pollsters predict the Senate and House will be backed by Republicans, but the White House will be ruled by Democrats for at least two more years, according to the Wall Street Journal’s report.

Crypto executives, just ahead of the November 8 midterm elections, bitcoin and Ethereum It had reduced its political donations in a move that followed the decline of digital currencies such as

However, research group OpenSecrets, which tracks political donations, reported that crypto firms and their employees invested $13 million in the 2020 election and $73 million in the 2022 election.

In addition, the industry spent $15 million on lobbying in the first nine months of this year. As the lobbying continues, members of Congress from both parties introduced the laws that the crypto industry advocates.

*Not investment advice.