In the United States, cryptocurrency donations have exceeded $190 million as the 2024 presidential elections approach, with $130 million allocated to legislative campaigns.
Cryptocurrency donations have once again acquired prominence, eclipsing $190 million, as the 2024 presidential elections approach. Veterans of the cryptocurrency industry and attorneys like John Deaton are currently making the final push to persuade electors that the cryptocurrency ecosystem in the United States is robust.
As of this year, the aggregate sum of cryptocurrency payments to political campaigns in the 2024 United States Presidential Elections has exceeded $190 million. According to CNBC, legislative elections, which encompass the primaries, have received a total of $130 million in these donations.
The debates surrounding cryptocurrency donations have once again become a topic of intense interest, as Ripple’s Chris Larsen has been contributing substantial amounts of money to Kamala Harris, the Democratic nominee for president. The XRP community has expressed considerable outrage in response to recent allegations that Larsen has donated over ten million dollars to Kamala Harris.
Furthermore, Larsen had already contributed one million dollars’ value of XRP to the Harris Victory Fund. This is unexpected when one considers that the government of Vice President Joe Biden waged a global campaign against Ripple regarding the sale of XRP as securities.
Brad Garlinghouse, the co-founder of Ripple, issued the subsequent statement in response to this new development: “We must promptly alter our course from this administration’s misguided assault on crypto.”
Fairshake, one of the most costly political action committees (PACs) of the year, has been emphasizing narrow House contests in the United States elections. The committee distributed a total of $29 million to a variety of recipients during the month of September.
Two associated political action organizations (PACs) received a total of twenty million dollars from the committee. The Defend American Jobs Political Action Committee contributed $15 million to a committee that concentrates on bitcoin and blockchain policy and has a Republican orientation. Protect Progress, an organization that exclusively endorses Democratic candidates, has received a donation of five million dollars.
Fairshake allocated the remaining $8.8 million to House campaigns in their respective states of California, Nevada, and New York. In a recent interview with CNBC, James Delmore, a cryptocurrency market analyst, claimed that the cryptocurrency market has reacted favorably to the growing probability that Donald Trump will win the election.
“Fairshake’s contributions to candidates in closely contested districts are indispensable. It is not solely about securing pro-crypto legislators in critical House seats; it is also about preserving California’s status as a crypto industry base.”
In addition, Polymarket’s statistics indicate that Donald Trump has recently established a substantial advantage over Kamala Harris, with his likelihood of winning increasing to 63.5%. In addition to Bitcoin’s ascent to $69,000, altcoins participated in the cryptocurrency market’s rally that transpired over the previous weekend.
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