2024

Shift

Bitcoin

Revolution

<ul>
 <li>Crypto companies have contributed nearly $119 million, dominating 2024 election finance.</li>  
 <li>Major players like Coinbase and Ripple lead with over 80% of crypto donations.</li>  
 <li>Crypto's influence is reshaping political spending, surpassing traditional donors like Koch Industries.</li> 
</ul>  
<p>The <a href="https://cryptonewsland.com/trump-vows-to-end-anti-crypto-crusade/" target="_blank" rel="noopener noreferrer nofollow">2024 presidential race</a> is seeing a dramatic shift in political spending. Cryptocurrency companies are now major players in election finance.&nbsp;</p>  
<p>Nearly half of all corporate election money this year comes from the crypto sector. This surge in spending is reshaping the political landscape and shifting power.</p>  
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<h2 class="wp-block-heading" id="h-crypto-s-dominance-in-election-spending">Crypto’s Dominance in Election Spending</h2>  
<p><a href="https://www.citizen.org/article/big-crypto-big-spending-2024/" target="_blank" rel="noopener noreferrer nofollow">Crypto companies</a> have poured over $119 million into federal elections. This amount represents almost half of all corporate contributions in 2024.&nbsp;</p>  
<p>Major players like Coinbase and Ripple are leading this charge. They have together contributed more than 80% of this total.&nbsp;</p>  
<p>Their donations go primarily to a non-partisan super PAC that supports <a href="https://cryptonewsland.com/trump-positions-himself-as-pro-crypto-candidate-amid-growing-support/" target="_blank" rel="noopener noreferrer nofollow">pro-crypto candidates</a> and opposes crypto skeptics. In comparison, Koch Industries, a well-known political spender, has contributed $25 million this year.&nbsp;</p>  
<p>This places Koch Industries far behind the crypto sector. Koch-affiliated groups, such as Americans for Prosperity Action, also receive substantial funds. However, their contributions are overshadowed by the crypto influx.</p>  
<h2 class="wp-block-heading" id="h-a-historic-shift-in-political-spending">A Historic Shift in Political Spending</h2>  
<p>The scale of crypto spending in 2024 is unprecedented. Over the past three election cycles, crypto companies have spent $129 million.&nbsp;</p>  
<p>This amount makes up 15% of all corporate donations since the Citizens United ruling in 2010. This year alone, crypto’s share of corporate spending has surged to 92%.</p>  
<p>The crypto sector now ranks just behind fossil fuel companies in political spending. Fossil fuel companies have spent $176 million over the past 14 years.&nbsp;</p>  
<p>Of this, <a href="https://www.kochinc.com/" target="_blank" rel="noopener noreferrer nofollow">Koch Industries</a> has contributed $73 million. The Fairshake PAC, benefiting from large corporate donations, has received nearly $114 million.&nbsp;</p>  
<p>This figure far exceeds contributions from other major outside spenders. Koch-backed Americans for Prosperity Action, for example, has raised around $26 million.</p>  
<p>As the 2024 elections approach, the influence of crypto money is becoming clearer. This shift highlights the crypto industry’s new role in American political finance.</p> 
<p>The post <a href="https://cryptonewsland.com/bitcoin-altcoins-drive-2024-election-funding/" rel="noopener noreferrer nofollow">Bitcoin and Altcoins Lead 2024 Election Finance Revolution</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Bitcoin and Altcoins Lead 2024 Election Finance Revolution

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