watch nowAs the 2024 U.S. elections reach their home stretch, crypto companies are opening their wallets to try and influence the results.
Nearly half of all the corporate money flowing into the election has come from the crypto industry, according to a report this week from the nonprofit watchdog group Public Citizen.
More than 90% of the corporate crypto cash that's been raised was brought in this election cycle.
Public Citizen's report found that of the 42 primary races that attracted money from crypto-backed super PACs, the candidate picked by the crypto industry won 36.
"When Fairshake and its affiliates spend money to influence races, either by attacking crypto skeptics or boosting crypto supporters, the ads don't mention crypto at all," said Claypool.
Persons:
Biden, Donald Trump, Rick Claypool, Coinbase, Andreessen Horowitz, Crypto, Brian Armstrong, Fairshake, It's, Claypool, Chuck Schumer, Kamala Harris's, Joe Biden, Harris, Faryar Shirzad, Trump, CNBC hasn't
Organizations:
Public Citizen, Securities and Exchange Commission, Republican, Senate, Supreme, Citizens, Federal, PAC, Public, CNBC, Trump, White
Locations:
Nashville , Tennessee, New York, California, cryptocurrencies, San Francisco, Nashville, United States