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Crypto firms "buying influence" in U.S. election 💰
A Public Citizen report found that crypto firms are major contributors to super PACs this election cycle.
Stephen Graves
August 22, 2024
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📝 What you need to know
Contributions from crypto firms make up a whopping 48% of the $248 million donated to super PACs this election cycle, a report from Public Citizen found—raising concerns that they’re “buying influence” over the U.S. presidential election.
Politicians’ stance on crypto has become increasingly pressing, with analysts concluding that only a “significant policy change” or major news event could boost Bitcoin over $65,000.
Meanwhile, presidential contenders continue to court the crypto vote, with an advisor to Democratic contender Kamala Harris offering veiled support for “that sort of industry” while her Republican rival Donald Trump promoted his family’s upcoming crypto project.
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💬 Quote of the Day
"We anticipate that this recent rally could extend slightly but will likely encounter resistance around the $65,000 level. Achieving a more substantial surge would require a significant policy shift or major news event,"
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