The new political power player is here, and it’s digital.
Since 2023, the cryptocurrency industry has poured $150 million into political campaigns, aiming to influence regulations favoring digital currencies. Ripple CEO Brad Garlinghouse recently ignited debate by suggesting that candidates supportive of crypto could see significant financial backing soon.
Garlinghouse’s comments highlight the increasing sway of crypto donations in the upcoming 2024 US presidential elections. While Donald Trump effectively utilized crypto contributions in his campaign strategy, other candidates remained cautious about digital currencies.
Despite Ripple’s legal battles with the US SEC, Garlinghouse strongly advocates for clear and supportive crypto policies. He argues that candidates embracing such policies stand to gain more voter support compared to those pushing for stricter regulations.
Similar sentiments are shared by industry leaders like Coincase, committed to fostering innovation and growth within the cryptocurrency sector. New York journalist Erin Griffith emphasized this trend, noting that while $150 million might seem modest in crypto terms, it holds significant weight in shaping electoral dynamics.
Griffith points out that these contributions, though not massive in the crypto world, exert substantial influence in political arenas. As debates over crypto regulation intensify, the role of “pro-crypto funding” in shaping policy decisions is poised to expand.
Ahead of upcoming elections, attention is drawn to former President Donald Trump’s introduction of the “Trump Coin” on the Solana blockchain. This initiative seeks to tap into Trump’s digitally savvy support base, mirroring other political-themed coins designed to engage tech-savvy supporters.
With the global cryptocurrency market valued at approximately $2.5 trillion, the emergence of “Trump Coin” highlights the growing integration of digital currencies in shaping political strategies and potentially swaying voter sentiment in future elections.
Does the rise of “political coins” concern you? Let’s discuss.
As market sentiment shifts and fresh momentum builds across digital assets, June 2025 presents a…
When Bitcoin first emerged, its fixed 21 million supply was mocked. Today, that scarcity has…
Singapore’s financial authority announces that unlicensed crypto firms operating overseas after June 30 will be…
On May 27, 2025, US President’s crypto czar, David Sacks, says there is a pathway…
Hackers used Monero to move stolen Bitcoin, pushing XMR up 24 percent to $269. But…
Pakistan has allocated 2,000 megawatts (MW) of electricity to fuel Bitcoin mining and artificial intelligence…