Bloomberg: Crypto Industry Political Action Committee Accumulates $180 Million for U.S. Midterm Elections

On April 21, Bloomberg reported that the political action committee (PAC) associated with the crypto industry has accumulated approximately $180 million in funds ahead of this year’s U.S. midterm elections, giving it spending power that matches or even exceeds that of some major Republican super PACs. Most of this funding surplus has been carried over from last year, with the majority concentrated in the ‘Fairshake’ organization, which is primarily supported by institutions such as Coinbase Global Inc., Ripple Labs, and venture capital firm Andreessen Horowitz. This scale of funding highlights the ongoing increase in the crypto industry’s political influence in the United States.