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Bloomberg: Cryptocurrency Industry Political Action Committee Raises $180 Million for U.S. Midterm Elections
BlockBeats News, April 21 — According to Bloomberg, political action committees (PACs) related to the crypto industry have currently accumulated around $180 million in funding reserves ahead of this year’s U.S. midterm elections, giving them the ability to spend even more than some of the major Republican super PACs.
Most of the remaining funds carry over from last year, with the vast majority concentrated in the organization “Fairshake,” which is primarily supported by institutions including Coinbase Global Inc., Ripple Labs, and venture capital firms such as Andreessen Horowitz.
This funding scale underscores the continued strengthening of the crypto industry’s political influence in the United States.