Trump's Win is MASSIVE For The Crypto Industry
December 14, 2024
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31:33Now PlayingTrump's Win is MASSIVE For The Crypto Industry
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as posted by the channelIf you thought American elections were shady already, we have news for you.
In 2020, cryptocurrency might have been something your little brother was telling you about but by 2024 it’s a multi-billion dollar sector extremely interested in amassing political power. The crypto industry spent roughly $200 million on advertisements in the 2024 campaign season, and while the super PACs didn’t directly spend on the presidential race, they knew that they had to curry favor with a future administration and Congress to ensure an easier regulatory environment.
In Ohio, crypto bros spent $40 million to support a Republican Senate challenger in Ohio over Democratic Senate Banking Chair Sherrod Brown—ultimately helping return the Senate to the Republicans. In the Democratic primaries they also spent big to defeat Cori Bush and Jamaal Bowman, spending alongside AIPAC, and spent $10 million against Representative Katie Porter in California. Their advertisements often had nothing to say about crypto, a topic that ultimately very few Americans care about. And though the industry and its super PACs would like to appear “non-partisan,” insiders have admitted that the scam must run through the “pro-freedom” Republican party.
We spoke with writer Molly White about just how much power this industry wants to gain and how they were able to use their wealth to impact our elections and ask the question: did we learn nothing from Sam Bankman Fried?
Come see Francesca at The Ice House in Pasadena on Wednesday January 22nd with Aida Rodriguez, Matt Lieb, James Fritz and Chloe Hilliard.
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