Cryptocurrency firms are heavily investing in election campaigns to influence Congress and increase their public presence, deploying tactics like smear campaigns and massive financial contributions.
Coinbase donated $46.5 million to Fairshake's super PAC and is leading lobbying efforts to mobilize crypto owners, despite discrepancies in the number of holders reported by Morning Consult and US Federal Reserve.
US Federal Reserve data shows only 7% of the population owns crypto, contradicting Morning Consult's claim of 52 million owners. The number of holders is declining, pointing to misrepresentation in industry advocacy campaigns.
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