Official U.S. Congress records and announcements

Nearly 300 Pro-Crypto Lawmakers Elected as Crypto PACs Raise Over $245 Million, Accounting for Half of Corporate Dollars

Nov 24, 2024, 09:04 AM

The recent U.S. elections have resulted in the election of nearly 300 pro-crypto lawmakers to the House and Senate, marking a significant shift in the legislative landscape for cryptocurrency. According to data from Stand With Crypto and the Federal Election Commission, crypto-related political action committees (PACs) and groups raised over $245 million during the election cycle. This funding accounted for nearly half of all corporate dollars contributed to the elections, as reported by nonprofit watchdog Public Citizen. The majority of this financial support, approximately two-thirds, was directed toward Republican candidates, reflecting the industry's strategic efforts to influence political outcomes and bolster its allies in Congress.