How Crypto Won the 2024 Election

Although President-elect Donald Trump and the Republican Party swept the 2024 general election, the cryptocurrency industry feels it is the real winner. Powered by donations from some of the biggest figures in cryptocurrency and venture capital, three political action committees poured more than $100 million into efforts to influence the 2024 election. “This election was a huge win for crypto,” co-founder and CEO of Coinbase Global Inc. Brian Armstrong wrote on Nov. 7 in an article on X. Coinbase, a cryptocurrency exchange founded in 2012, donated about $55 million to the super PAC Fairshake, according to Federal Election Commission records. Armstrong personally donated $1 million. As Armstrong wrote, the industry had much to celebrate in early November. It saw its preferred candidates take the White House and win key seats in both houses of Congress. He declared that the 119th Congress will be the “most pro-crypto Congress ever.”...