• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
Buy Neo Pepe
No Result
View All Result
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Polymarket Set To Go Live In The US Following CFTC Approval, Says CEO
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Polymarket Set To Go Live In The US Following CFTC Approval, Says CEO
Crypto

US Political Candidates Receive Ultimatum From Crypto Lobby: ‘Side With Us Or Risk Defeat At The Ballot Box’

Ronaldo Marquez
by Ronaldo Marquez
1 year ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

According to a Bloomberg report, the crypto lobby in the United States has issued a stark warning to political candidates, demanding their support or risk defeat at the ballot box in the November 5, 2024, elections. 

Citing the recent defeat of Democratic Representative Katie Porter in California’s Senate primary as evidence, the digital asset industry points to its significant financial backing and influence on elections. 

With sympathetic billionaires and a well-funded pro-crypto super political action committee (PAC), the industry aims to shape the political landscape in favor of cryptocurrency-friendly candidates.

Industry Giants Pour $10M Into Securing Pro-Crypto Nominees

Rich industry players have reportedly contributed $10 million to advertising and get-out-the-vote efforts that allegedly helped defeat Katie Porter in the open primary. That outcome paved the way for fellow Democrat Adam Schiff, perceived as more pro-crypto, to secure the nomination, the report noted. 

Related Reading: Massive Ethereum Laundering Operation: North Korean Hackers Exploit Tornado Cash For $12M

According to the report, the lobby plans to use Porter’s loss as an example to pressure other vulnerable Democratic allies, warning that aligning with crypto critic Senator Elizabeth Warren could make their reelection campaigns more difficult.

Digital asset advocates have reportedly garnered significant financial support from sympathetic billionaires and industry leaders. The pro-crypto Super PAC, Fairshake, has amassed a “war chest” of approximately $75 million for use in the US elections. 

Notable backers include Coinbase CEO Brian Armstrong, Gemini exchange founders Cameron and Tyler Winklevoss, and Marc Andreessen of Andreessen Horowitz. With significant resources, the lobby aims to influence political outcomes and promote candidates who support the industry’s interests.

Balancing Innovation And Regulation

The digital asset industry faces legislative proposals to combat illicit finance, with some bills seeking to apply anti-money laundering rules to crypto firms. Groups like the Blockchain Association and the Chamber of Digital Commerce argue that such requirements would be “unworkable” and potentially “fatal” for the industry in the US. 

While criminal networks have exploited cryptocurrencies for illicit activities, the industry emphasizes the need for balanced regulation that addresses concerns without stifling innovation.

Bloomberg observes that the crypto industry’s growing political influence represents a significant shift from when it faced scandals and business failures a year ago. 

Related Reading: XRP Scores Regulatory Win: European Governance Institute Endorses Non-Security Status

Despite regulatory scrutiny and challenges in establishing practical use cases for the technology, the industry has rebounded and now wields financial clout. Lawmakers recognize the industry’s ability to pour millions of dollars into races, making it a force to be reckoned with in the political arena.

Crypto
The 1-D chart shows the total crypto market cap’s valuation at $2.5 trillion. Source: TOTAL on TradingView.com

Featured image from Shutterstock, chart from TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Ronaldo Marquez

Ronaldo Marquez

Follow

Ronaldo is a seasoned crypto enthusiast with over four years of experience in the field. He is passionate about exploring the vast and dynamic world of decentralized finance (DeFi) and its practical applications for achieving economic sovereignty. Ronaldo is constantly seeking to expand his knowledge and expertise in the DeFi space, as he believes it holds tremendous potential for transforming the traditional financial landscape.

Full Profile

Related Posts

Bitcoin Hyper ($HYPER) Live News Today: Latest Insights for Bitcoin Maxis (September 4)

Bitcoin Hyper ($HYPER) Live News Today: Latest Insights for Bitcoin Maxis (September 4)

7 minutes ago
Next Crypto to Explode Live News Today: Timely Insights for Chart Sniffers (September 4)

Next Crypto to Explode Live News Today: Timely Insights for Chart Sniffers (September 4)

7 minutes ago
crypto

Crypto Adoption 2025: India, US, And Pakistan Secure Top 3 Spots In Global Index

6 hours ago
bitcoin

US Bancorp Resumes Bitcoin Custody Services After Three-Year Pause – Details

7 hours ago
Crypto

SEC And CFTC’s New Joint Crypto Initiative–What You Need To Know

8 hours ago
MEXC’s Zero-Fee Futures Strategy Fuels Record Q2 Growth

MEXC’s Zero-Fee Futures Strategy Fuels Record Q2 Growth as Traders Pivot to Stablecoins and DeFi

17 hours ago

Premium Sponsors

Press Releases

  • MemeCore...

    4 hours ago
  • XRP is expected to break through $7. APT Miner helps...

    11 hours ago
  • miner

    Expectations of a Federal Reserve rate cut and demand for...

    15 hours ago
  • miner

    BlackRock suspends XRP listing, price faces resistance...

    15 hours ago
  • miner

    The September Curse Returns: How Crypto Investors Can...

    15 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Buy Neo Pepe

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.