Cryptolobby spends $169.5 million, support for crypto among voters low

The American crypto sector has spent $169.5 million to influence the new Congress, primarily through campaign groups. Only 15 percent of Republicans and 13 percent of Democrats consider support for crypto and similar technologies as very important in their candidate choice. Fairshake, the organization behind these expenditures, has transferred $139 million to affiliated campaign organizations and made $19.4 million in independent election spending. These amounts are significant, but the impact on voters appears limited. An Ipsos poll shows that only 15 percent of Republicans and 13 percent of Democrats find the growth of blockchain and crypto important. The poll, conducted between September 8 and 16, included 1,545 American adults with a margin of error of 2.8 percent. Despite the low priority of crypto among voters, the campaign influence of the crypto lobby may still affect future legislation and oversight, especially with the upcoming elections on November 3.

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