From Investing.com: 2024-05-06 15:45:52

Outside political groups linked to the cryptocurrency industry have raised over $102 million for U.S. congressional elections to support pro-crypto candidates, per Public Citizen. This funding exceeds that of most super PACs this cycle, reflecting the industry’s intent to shape favorable policies amid heightened regulatory scrutiny. About $54 million stems from corporate contributions, mainly from Coinbase and Kraken. The rest comes from key industry players like Andreessen Horowitz and Gemini founders. Crypto-backed super PACs plan to target Senate races in Ohio and Montana, where incumbents Sherrod Brown and Jon Tester have voiced concerns about cryptocurrency misuse by sanctioned entities.

Read more at Investing.com: US crypto super PACs have raised more than $100 million, report says By Reuters