Big Crypto is now spending more on US elections than any other industry
www.businessinsider.com
Crypto companies have already funneled some $119 million into federal elections, according to data from Public Citizen.

The crypto industry is making its mark on this year’s elections to the tune of some $119 million.

The funding has largely come from two companies — Coinbase and Ripple — which are funneling money into super PACs like Fairshake PAC, which is dedicated to “elevating pro-crypto candidates and attacking crypto skeptics,” according to Public Citizen.

At the 2024 bitcoin conference in Nashville in February, Trump — who called bitcoin “highly volatile and based on thin air” in 2019 — said he’d lay out a plan “to ensure that the United States will be the crypto capital of the planet and the bitcoin superpower of the world.” Trump has already won the backing of several crypto enthusiasts, including his running mate JD Vance, who owns at least $250,000 in bitcoin.

    • @JiveTurkey
      19•23 days ago

      Do you think there isn’t a blood cost for electricity?

      • @tibi
        7•22 days ago

        Which includes mining all the rare materials used in manufacturing the GPUs and ASICs (that we’re actually running out of) .

      • @[email protected]
        -8•22 days ago

        I was referencing the FIAT system. I’m sure you’ll agree there’s much more blood cost (in terms of lives ruined and indirect life lost), although it’s harder to directly relate.

        • @Fedizen
          8•22 days ago

          dang bro, its a good thing crypto solves any of the problems with fiat currency and doesn’t introduce a bunch of new ones like reliance on data centers, power and water requirements, long transaction times and it becomes useless when you lose network connection.

        • @JiveTurkey
          5•22 days ago

          I do agree but imo the power consumption is a flaw of Bitcoin and should have been addressed upfront. There has to be a better way.

          • Blaster MEnglish
            -3•22 days ago

            Etherium and proof of stake instead of proof of work

            • @alienanimals
              2•22 days ago

              They’re not intelligent enough to realize their arguments are outdated.

            • @Fedizen
              1•19 days ago

              how is proof of stake not an easy target for regulators and how is that model significantly different than a very slow credit card transaction?

              • Blaster MEnglish
                1•19 days ago

                Way less power consumption as it doesn’t work by “mining” (grinding a super hard math problem) with 11 jillion gpus.