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.
Oh and by the way, crypto users… the coins they’ll be promoting won’t be yours. They won’t be pushing for clear SEC categorization or lower taxes. They’ll be helping insiders, and you’re on the outside.
Coinbase made their first attempt to consolidate power with the New York Agreement. This is their next attempt, now with regulatory capture.
Republicans are offering you financial freedom that you already have without their permission.
Crypto billionaires are billionaires “on paper.” By that, I mean, they can’t get their money OUT of crypto unless millions of people buy INTO crypto. So, of course, they are trying to mainstream it.
It’s just another form of Ponzi Scheme.
They need suckers to hold their bags
You mean money launderers, criminals, and foreign governments are openly spending more than any other industry?
Funny that some cryptobros still think bitcoin is the currency of the people. That shit is controlled by the rich as well, including the banks that they claimed would be left out of the “crypto revolution”.
The new currency that’s backed by the old currency and uses a shit ton more electricity. What a time to be alive.
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🎶 Meet the new
bosscoinSame as the old
bosscoin 🎶
Weird that the anti crime criminal is promoting crime coin, or not weird at all. Republican party has for years campaigned on fires they started (see debt, immigration, economy, etc)
I guess supporting something whose only legitimate uses are digital theft, money laundering, and buying human trafficking victims are their way of ensuring cartels won’t ever stop existing
Yeah because you definitely can’t do any of that with cash.
I do all my digital theft in cash
How about the other things you listed?
Weird that the anti crime criminal is promoting crime coin
Crypto is a painfully both-sides affair, what with the enormous volumes of investor cash flooding the election system. This went back to JP Morgan’s backing of Etherium during the Obama administration, with crypto-bros infesting multiple Fed banks and throwing their own batch of state and federal office holders at the wall. Then Scam Bankrupt Greed’s FTX went big and straight up bought out Senators Cynthia Lummis and Catherine Gillibrand to write crypto-friendly regulatory reforms. His bank imploded before that legislation could worm its way through Congress.
But now they’re back and with even more obscene piles of cash. Mistaking the Crypto-bros as uniquely Republican is going to bit liberals in the ass biggly. You’re going to start finding crypto investments in your pension funds, your 401ks, and your college trusts very soon, if the Newsome Imperium and the Bloomberg banksters are allowed to ram their novelty tech innovation bills through Congress uninhibited.
Newsom is largely centrist, its less that crypto is party aligned and more that its corruption aligned - the republicans are just more corrupt on average.
Newsom is largely centrist
He’s absolutely buried within the Silicon Valley lobbying community and has repeatedly wielded his gubernatorial power to quash pro-labor and pro-regulatory legislation on those grounds.
the republicans are just more corrupt on average
California Democrats are a stone’s throw away from any Midwestern Republican when it comes to “business friendly” state policies. The only thing either group cares about is economic growth.
Yeah… and they get to use other people’s money while doing it. Crypto is great.
This is embarrassing. Currency should never be an industry in the first place.
That’s part of what they’re lobbying for - to have it treated as a currency and not a commodity.
They should treat it as a currency first then. The first major problem with crypto I saw was people were treating it as a commodity instead of using it to buy things.
They were buying things with it. Mostly drugs and other illegal things, but still.
That is/was its number one use as a currency, but more crypto was moved around as commodity trading or being held with the intention of commodity trading then ever use to buy things with.
You may know more about this than I do, but this seems incorrect. The crypto industry relies on trading commodities. If they wanted a digital currency, would they not lobby for a central bank digital currency?
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No, just that almost all use cases were scams.
Still waiting on that one non-scam game changing use case.
Jesus fuck, Citizens United needs to be reversed almost as much as Roe v Wade.
Imo citizens united paved the way for the reversal. Billionaires like must are clear they need meet for the machine and the only meat that spends money is human
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https://www.businessinsider.com/crypto-bitcoin-election-spending-kamala-harris-donald-trump-2024-8
Oh yeah, Paris Marx covered this on his Tech Won’t Save Us Podcast with Writer and Crypto Skeptic Molly White.
Not that it needs bearing repeating, but Fuck All Crypto Bros.
