Crypto Industry Surpasses Traditional Sectors in 2024 Election Contributions, Outspending Oil, Gas, And Pharmaceutical Sectors

Benzinga 2024-11-05

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The U.S. cryptocurrency industry has outpaced traditional election cycle spenders, raising over $238 million for the 2024 election, according to Breadcrumbs and FOX Business analysis. This surpasses contributions from oil, gas, and pharmaceutical sectors and Citadel, a major Wall Street donor. Coinbase, Ripple, and Andreessen Horowitz contributed $160 million toward pro-crypto super PACs. Roughly $181 million of these funds went to super PACs, with the remaining $57 million directly supporting candidates like Donald Trump and Kamala Harris. Trump received $22 million in industry donations, primarily in cryptocurrency, while Harris received $12 million.

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