Crypto PACs Amass $78 Million for 2024 Political Influence

Three super PACs funded by leaders in the cryptocurrency industry are starting 2024 with a combined $78 million as they aim to influence the upcoming election cycle. Despite recent challenges, the cryptocurrency industry is determined to support pro-crypto candidates running for seats in the House and Senate. The super PACs, known as Fairshake, Protect Progress, and Defend American Jobs, have raised significant funds from influential players in the crypto space, including Andreessen Horowitz, Coinbase, and Ripple. While their specific endorsements for next year are unknown, the Fairshake super PAC has already spent over $1 million on television advertisements supporting lawmakers with a history of supporting the crypto industry, including House Financial Services Chairman Patrick McHenry.