Crypto Money: How Tech Billionaires Bought Congress

In the 2024 U. S. election, crypto billionaires spent a staggering $245 million, making up nearly half of all corporate money. They targeted candidates who supported crypto and attacked those who didn't. This helped flip Senate seats and secure a record number of pro-crypto lawmakers. Ohio's Bernie Moreno, a former car salesman, benefited from this strategy. He defeated long-time Senator Sherrod Brown with the help of crypto giant Coinbase, which spent over $75 million to support pro-crypto candidates.

This election cycle saw crypto execs and investors mobilize like never before, buying ads in battleground states and building a grading system to determine where to spend their money. Crypto companies learned from big tech's mistakes, focusing on pre-election spending to avoid dealing with critics later. The industry's success highlights the power of money in politics and the growing influence of crypto.

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