Gemini

Cryptocurrency

United

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 <p class="paragraph">With the fast-approaching 2024 elections in the United States, cryptocurrency executives and investors have poured $78 million into three major independent expenditure-only political action committees, or super PACs, in a bid to back crypto-friendly candidates.</p>
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 <p class="paragraph">Specifically, these three pro-<a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> super PACs include Protect Progress, Defend American Jobs, and Fairshake, the last of which has already spent over $1.2 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> on television ads backing Congress House candidates, according to a report by media outlet <em>Politico</em> published on December 18.</p>
 <p class="paragraph">Indeed, the campaign has already received support from venture capital (VC) giant Andreessen Horowitz, crypto exchange Coinbase, Gemini co-founders Cameron and Tyler Winklevoss, and other major players in the crypto field, including Ripple, Circle, Kraken, and Paradigm.</p>
 <h2 class="wp-block-heading" id="h-crypto-execs-vs-regulators">Crypto execs vs. regulators</h2>
 <p class="paragraph">Commenting on the development, Ripple’s CEO Brad Garlinghouse expressed his optimism regarding this contribution to the fight against regulatory overreach and a lack of leadership that is holding the country back on the global <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> and technology scene and “actively moving the US in the wrong direction.”</p>
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  <p class="paragraph">“We need to advance leaders who will champion innovation and spearhead paths towards responsible regulation. 2024 is the time to go back to first principles by encouraging initiatives to promote transparency, innovation, and a compliance-first approach. Team Ripple and I won’t squander it.”</p>
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 <p class="paragraph">At the same time, the head of US policy at the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> trading platform Coinbase, Kara Calvert, told <em>Politico</em> in an interview that this endeavor was “demonstrating a very serious commitment from the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> industry to engage in the 2024 elections.” As she added:</p>
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  <p class="paragraph">“The need to ensure that a <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> super PAC is well-funded, has good management, is getting engaged in the right place at the right time has never been more important.”</p>
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 <p class="paragraph">As a reminder, US Senator Elizabeth Warren recently caused a commotion by unveiling an expanded coalition of the Senate’s support for the bipartisan Digital Asset Anti-Money Laundering Act to tighten regulations within the expanding crypto space, which she initially introduced back in December 2022.</p>
 <p class="paragraph">More recently, John E. Deaton, a legal expert involved with this industry, revealed that 20% of the US Senate already agreed to support her anti-crypto bill, including Lindsay Graham, a Republican, Angus King, an Independent, and Joe Manchin, a Democrat turned Independent, as Finbold reported on December 18.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/cryptocurrency-firms-give-78-million-to-pro-crypto-political-groups-tbt74168.html">https://thebittimes.com/cryptocurrency-firms-give-78-million-to-pro-crypto-political-groups-tbt74168.html</a></p>

Cryptocurrency firms give $78 million to pro-crypto political groups

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TheBitTimes

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