Crypto blitzes U.S. midterms with $176 million as it prepares for post-Trump era
The $2.75 trillion industry is aggressively spending to elect friendly candidates while targeting politicians it sees as a threat.
The cryptocurrency sector has allocated approximately $176 million across more than 100 midterm races during this election cycle, as part of a long-term strategy to establish a bipartisan network of congressional allies, according to interviews with crypto political strategists and a Reuters investigation into the industry's spending.
The $2.75 trillion crypto industry and its billionaire stakeholders are actively investing in the election of candidates who share their views, while also targeting politicians they perceive as a threat, the strategists revealed. Their efforts extend beyond merely securing allies; they aim to secure candidates who have a realistic chance of winning and who can effectively support the industry's legislative agenda once in office.
The crypto industry's recent spending surge is well-documented, but its broader strategy to influence the post-Trump political landscape remains less understood. Through the interviews and analysis, it becomes clear that the industry is meticulously selecting targets, not just for the purpose of gaining electoral support, but also for potential legislative influence once the candidates assume their congressional roles.
Written by urgent.news from Japan Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
