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.
Yeah, I mean how there is people putting lots of money into elections with crypto if it is a scam, I don’t understand.
Usually, if there’s a scam, someone’s making money off it. This is them. They want to keep making money.
There is so much nuance to this argument that this conversation just glosses over. Replace “big crypto” with banks and it’s the same thing.
Casino owners put a lot of money into elections too.
Would you say casinos aren’t a scam? I’d call them a scam.
It’s not as much as those people who are buying bitcoins thinking they get rich, but the people that are making money on them that are spending on elections.