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Given various candidates’ willingness to buy the industry-manufactured myth about blocs of single-issue crypto voters, I worry candidates in future elections may also fall for this story and choose to submit to crypto industry pressures rather than risk millions in opposition spending next time they stand for re-election. And the industry is already scrambling to ensure politicians have no doubts about the wealth crypto PACs might muster against them, refilling the super PAC war chests with another $25 million from Coinbase [I69] and $23 million from Andreessen Horowitz.13

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Given various candidates’ willingness to buy the industry-manufactured myth about blocs of single-issue crypto voters, I worry candidates in future elections may also fall for this story and choose to submit to crypto industry pressures rather than risk millions in opposition spending next time they stand for re-election. And the industry is already scrambling to ensure politicians have no doubts about the wealth crypto PACs might muster against them, refilling the super PAC war chests with another $25 million from Coinbase [I69] and $23 million from Andreessen Horowitz.13
https://media.hachyderm.io/media_attachments/files/113/489/678/900/873/759/original/8ed358f3a068a16b.png

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Molly White (molly0xfff@hachyderm.io)'s status on Saturday, 16-Nov-2024 08:58:00 JST Molly White
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This strategy of betting on the winners was partly to ensure loyal advocates in Congress, but it was also because the crypto industry’s spending was as much a show of force as it was about actually achieving their desired outcomes.
#crypto #cryptocurrency #USpolitics #USpol

In conversation about 6 months ago from hachyderm.io permalink