There's 50 million crypto holders in the U.S., the executive declared. That's a lot of voters. That message has become a political talking point in the crypto world, as the industry tries to shake off a wave of scandals and establish itself as a powerful force in the 2024 election cycle.
Three large crypto firms have banded together to finance a group of affiliated super PACs, investing about $150 million to elect pro-crypto candidates in congressional races. The PACs are not planning to participate in the presidential election.
But top crypto executives have tried to mobilize the industry behind Mr. Trump, who has reciprocated by praising digital currencies and hosting executives at Mar-a-Lago. Many crypto supporters view the 2024 election as a pivotal moment.
The 2024 elections will be the most consequential in crypto's history, said Brad Garlinghouse, the chief executive of Ripple, a crypto company that has sparred with the federal government for years. You are seeing a technology become a partisan political issue.
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