{"id":2330064,"date":"2024-08-23T14:00:02","date_gmt":"2024-08-23T18:00:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/crypto-cash-pouring-into-campaigns-is-spread-around-regardless-of-party-washington-examiner\/"},"modified":"2024-08-23T14:05:39","modified_gmt":"2024-08-23T18:05:39","slug":"crypto-cash-pouring-into-campaigns-is-spread-around-regardless-of-party-washington-examiner","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/crypto-cash-pouring-into-campaigns-is-spread-around-regardless-of-party-washington-examiner\/","title":{"rendered":"Crypto cash pouring into campaigns is spread around regardless of party &#8211; Washington Examiner"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fcrypto-cash-pouring-into-campaigns-is-spread-around-regardless-of-party-washington-examiner%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2330064&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The article \u2063discusses the \u200csignificant financial \u2062contributions made by cryptocurrency companies to political campaigns during the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/georgia-senate-judiciary-subcommittee-unanimously-passes-motion-to-audit-fulton-countys-absentee-ballots-using-method-outlined-by-jovan-pulitzer\/\" title=\"Georgia Senate Judiciary Subcommittee Unanimously Passes Motion to Audit Fulton County\u2019s Absentee Ballots Using Method Outlined by Jovan Pulitzer\">current election cycle<\/a>, highlighting their \u2062bipartisan support for\u200d candidates from both the Democratic\u2063 and Republican parties. Despite <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/nine-states-and-d-c-still-have-mask-mandates-in-place\/\" title=\"Nine States and D.C. Still Have Mask Mandates in Place\">facing legal challenges<\/a> from the\u200c Securities and Exchange Commission (SEC) and scrutiny from\u2063 the Biden administration regarding compliance with securities laws, these companies are investing heavily to protect their interests. <\/p>\n<p>Notable players in the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/cryptocurrency-market-drops-partially-recovers-following-russian-invasion-of-ukraine\/\" title=\"Cryptocurrency Market Drops, Partially Recovers Following Russian Invasion of Ukraine\">crypto sector<\/a>, such\u2062 as Coinbase and Ripple, account for \u2063a substantial portion of\u2063 campaign donations, \u200dwith a watchdog\u2063 report indicating that cryptocurrency firms \u2064represent nearly \u2064half of all corporate\u200d donations this election cycle. A \u200dpro-crypto super PAC named \u2063Fairshake notably contributed $75 million in July alone and\u200b has pledged to support various candidates across party\u200b lines, having \u200csuccessfully backed many \u200cwho have won their primaries. <\/p>\n<p>As cryptocurrency companies outpace\u2064 traditional sectors like oil and\u2062 banking in\u2063 political donations, both former President Donald Trump and Vice President\u200b Kamala Harris \u2063are actively seeking the \u2062support \u200cof\u2063 the crypto industry ahead of the November elections.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\"><\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">Crypto cash pouring into campaigns is spread around regardless of party<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_1707857\" class=\"tpd-featured-video bridtv\"><\/div>\n<p>After facing litigation battles with the <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/sec\/\" target=\"_blank\" rel=\"noopener\" title>Securities and Exchange Commission<\/a>, <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/cryptocurrency\/\" target=\"_blank\" rel=\"noopener\" title>cryptocurrency<\/a> companies are pouring millions of dollars into candidates of either party this <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/2024-elections\/\" target=\"_blank\" rel=\"noopener\" title>election cycle <\/a>who will protect their interests.<\/p>\n<div class=\"article-paywall\">\n<p>While the industry has come under fire with the Biden administration, cryptocurrency companies have donated to both Democratic and Republican candidates.<\/p>\n<p>So far, cryptocurrency companies account for nearly half of all corporate money donated and fundraised this election cycle, according to a report by watchdog group <a href=\"https:\/\/www.citizen.org\/article\/big-crypto-big-spending-2024\/\" target=\"_blank\" rel=\"noopener\" title>Public Citizen<\/a>.&nbsp;<\/p>\n<p>Coinbase and Ripple are responsible for 80% of donations this election cycle. Both of which have come under scrutiny by the Biden administration for allegedly violating securities laws.&nbsp;<\/p>\n<p>In just the month of July, the pro-crypto super PAC Fairshake dropped $75 million. It received $49 million from Coinbase, $47 million from Ripple, and $47 million from venture firm Andreessen Horowitz.<\/p>\n<p><a href=\"https:\/\/www.opensecrets.org\/political-action-committees-pacs\/fairshake-pac\/C00835959\/summary\/2024\" target=\"_blank\" rel=\"noopener\" title>OpenSecrets<\/a> found that the PAC has $120 million left to spend ahead of the November election.<\/p>\n<p>Already, the PAC has pledged $25 million to be spent in the general election cycle on nine Democratic House candidates, nine Republican House candidates, and three races.&nbsp;<\/p>\n<p>Out of the 42 candidates in primary races that received funding from crypto-backed super PACs, 36 won their race.&nbsp;<\/p>\n<p>Half of all corporate donations have come from cryptocurrency companies this election cycle, and former President <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/Donald-Trump\/\" target=\"_blank\" rel=\"noopener\" title>Donald Trump<\/a> and Vice President <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/Kamala-Harris\/\" target=\"_blank\" rel=\"noopener\" title>Kamala Harris<\/a> are both vying to gain the backing of the crypto industry, which is outperforming big oil companies and banks in donations.<\/p>\n<p>Cryptocurrency fundraisers in Nashville and San Francisco have been set up for Trump, who claims he&rsquo;s raised $25 million from crypto interests. Trump has made promises that if he is elected, the federal government would never sell off its bitcoin holdings.<\/p>\n<p>Meanwhile, Harris has been seeking to distance herself from the Biden administration&rsquo;s scrutiny of the industry. On Tuesday, her campaign <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-08-21\/harris-supports-policies-to-expand-crypto-industry-aide-says?sref=8nHb9uj5&amp;embedded-checkout=true\" target=\"_blank\" rel=\"noopener\" title>announced<\/a> policy plans to expand the cryptocurrency sector.&nbsp;&nbsp;<\/p>\n<p><a href=\"http:\/\/washingtonexaminer.com\/\" target=\"_blank\" rel=\"noopener\" title><strong><\/strong><\/a><\/p>\n<p>Senate Majority Leader <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/Chuck-Schumer\/\" target=\"_blank\" rel=\"noopener\" title>Chuck Schumer<\/a> (D-NY) also led a virtual town titled &ldquo;Crypto4Harris,&rdquo; in which he discussed the possibility that a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/morning-wire-publishing-company-censors-conservative-books-lawmakers-debate-cryptocurrency-activists-protest-obamas-presidential-center\/\" title=\"Morning Wire: Publishing Company Censors Conservative Books, Lawmakers Debate Cryptocurrency, Activists Protest Obama\u2019s Presidential Center\">crypto-friendly law<\/a> could pass the Senate this year.&nbsp;<\/p>\n<p>The cryptocurrency industry&rsquo;s rise this election cycle is prominent, as it accounts for 90% of total spending from the industry since 2010.<\/p>\n<\/div>\n<p> <script data-cfasync=\"false\" src=\"http:\/\/www.washingtonexaminer.com\/cdn-cgi\/scripts\/5c5dd728\/cloudflare-static\/email-decode.min.js\"><\/script><script>!function(){var g=window;g.googletag=g.googletag||{},g.googletag.cmd=g.googletag.cmd||[],g.googletag.cmd.push(function(){g.googletag.pubads().setTargeting(\"has-featured-video\",\"true\")})}();<\/script><script>var _bp=_bp||[];_bp.push({\"div\":\"Brid_1707857\",\"obj\":{\"id\":\"27789\",\"width\":\"1280\",\"height\":\"720\",\"stickyDirection\":\"below\",\"video\":\"1707857\"}});<\/script><script defer src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cryptocurrency funds are being distributed to candidates from both political parties this election cycle, as companies in the sector seek to safeguard their interests following legal challenges with the Securities and Exchange Commission. Despite facing criticism from the Biden administration, these companies have contributed to both Democratic and Republican candidates. According to a report by watchdog group Public Citizen, cryptocurrency firms represent nearly half of all corporate donations and fundraising efforts this election season. Notably, Coinbase and Ripple account for 80% of these contributions, even as they face scrutiny for potential securities law violations.<\/p>\n<p>In July alone, the pro-crypto super PAC Fairshake invested $75 million, receiving significant funding from Coinbase ($49 million), Ripple ($47 million), and venture firm Andreessen Horowitz ($47 million). OpenSecrets reports that Fairshake still has $120 million available for spending before the November elections. The PAC has already committed $25 million towards supporting nine Democratic House candidates, nine Republican House candidates, and three other races.<\/p>\n<p>Among 42 primary race candidates funded by crypto-backed super PACs, 36 emerged victorious. Cryptocurrency companies have provided half of all corporate donations this election cycle; former President Donald Trump and Vice President Kamala Harris are both actively seeking support from this industry\u2014outpacing traditional sectors like oil companies and banks in contributions. Fundraising events in Nashville and San Francisco have been organized for Trump, who claims to have raised $25 million from crypto sources while promising not to sell off federal bitcoin holdings if elected. Meanwhile, Harris is attempting to distance herself from her administration&#8217;s critical stance on the industry by announcing plans aimed at expanding cryptocurrency opportunities.<\/p>\n<p>Senate Majority Leader Chuck Schumer (D-NY) also hosted a virtual town hall called &#8220;Crypto4Harris,&#8221; discussing potential legislation favorable to cryptocurrencies that could pass through the Senate this year. The prominence of cryptocurrency funding is evident as it constitutes 90% of total industry spending since 2010<\/p>\n","protected":false},"author":2542,"featured_media":2330065,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/07\/wb-tech-gop-cryptocurrency-policy-072424A3.webp","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[8954,6987,4303,5894,32076],"class_list":["post-2330064","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-campaigns","tag-crypto","tag-donations","tag-politics","tag-washington-examiner"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/07\/wb-tech-gop-cryptocurrency-policy-072424A3.webp","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2330064","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2542"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2330064"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2330064\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2330065"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2330064"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2330064"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2330064"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}