Crypto Becomes a Major Political Donor as Americans Head to the Polls
The digital-asset industry is joining the US political money game to woo candidates and gain influence.
Political spending by major figures in crypto has eclipsed the dollars being spent by donors in traditional industries such as pharma.
Photographer: Daniel Acker/Bloomberg
It might feel like there’s always some kind of election happening in the US - and that’s because there is. State and local elections can happen every year, while ​​Congressional midterms occur every other year, allowing US voters to decide who will represent them. These elections really matter, and crypto executives are spending significant amounts of money to influence them. In 2022, for the very first time, political spending by major figures in the crypto industry has eclipsed the dollars being spent by traditional donors in Big Tech and pharma. Today, Bloomberg reporter Allyson Versprille joins this episode to share her reporting on why crypto is emerging as a significant financial force in US politics.