As Bitcoin (BTC) and the cryptocurrency industry play a significant role in the 2024 U.S. elections, substantial donations have been made from the crypto sector to federal election campaigns.

CoinDesk reports that cryptocurrency companies have contributed $119 million to U.S. federal election campaigns.

Public Citizen’s latest report reveals that these donations account for nearly half of the total corporate donations, which amount to $248 million.

A large portion of these funds has been directed to crypto-friendly super political action committees (PACs) like Fairshake.

Among the major donors are Coinbase, Ripple (XRP), and other cryptocurrency companies.

The report highlights that of the $203 million raised by Fairshake, $107.9 million came directly from cryptocurrency companies. This figure includes substantial donations from prominent figures in the tech and crypto industries, such as the Gemini founders and Coinbase CEO Brian Armstrong.

Public Citizen’s research director, Rick Claypool, noted that the political spending by the cryptocurrency industry in the 2024 elections is unprecedented.

U.S. presidential candidate Donald Trump also announced that his campaign would accept BTC and other cryptocurrencies as donations.

Also, you can freely share your thoughts and comments about the topic in the comment section. Additionally, please follow us on our Telegram, YouTube and Twitter channels for the latest news and updates

The post Record Donations from Cryptocurrency Companies to U.S. Elections! appeared first on Coin Engineer.