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Crypto's big year in polictics
This year, a handful of crypto executives revolutionized how corporations spend on elections. The effects of their triumph could extend well beyond crypto.
Stacy Elliott
December 11, 2024
Together with:
📝 What you need to know
You could say every U.S. presidential election cycle since the dawn of Bitcoin has been the biggest yet for the crypto industry. But 2024 took it from big to bigly.
It goes beyond the fact that the reelection of Donald Trump has paved the way for the appointment of a handful of crypto-friendly officials at key agencies or that he pledged to create a Bitcoin Strategic Reserve—something other nations are already rushing to copy.
Crypto’s growing footprint in politics showed up in fundraising, too. Crypto super PAC Fairshake had amassed nearly $85 million, obliterating the previous record held by a corporate group for super PAC fundraising: the National Association of Realtors’ comparatively meager $18 million fundraise in 2022.
By the eve of 2024’s presidential election, Fairshake and its affiliate PACs would raise nearly $300 million. Nearly every candidate backed by Fairshake won their race—and the super PAC's victory could have a significant impact on how politics in the U.S. is played for years to come."
That’s why the way crypto changed politics is the Decrypt 2024 story of the year.
💬 Quote of the Day
We were dealing with a political problem. And to deal with that political problem, we needed a political solution.
From our partner
Cosmos is expanding: Skip joins the Interchain Foundation
The Interchain Foundation has acquired Skip, one of Cosmos’ leading teams, to bring their excellence in engineering, product strategy, and execution in-house and usher in an era of growth for Cosmos, and its vision for the interchain.
Skip will rename to Interchain Inc. and become the ICF’s main subsidiary, concentrating product, vision, and go-to-market for the Interchain Stack and Cosmos – aligning the Interchain Stack’s vision, and the vision for a Cosmos Hub that is at the center of the ecosystem, driving user and liquidity growth for the entirety of the Cosmos’ interchain ecosystem.
