Mastodawn

#Crypto Money Is Poised to #Influence the #Election

#RyanSelkis, a #cryptocurrency exec, was eating dinner at Mar-a-Lago last month when he got an unexpected invitation: #Trump wanted him to come to the stage & say a few words.

#Selkis, who runs the crypto data firm #Messari, was at an event for Trump’s #NFTs.

“There’s 50 million crypto holders in the US. That’s a lot of voters,” Selkis declared.

#PAC #FEC #law #CitizensUnited #DarkMoney #VoteBlue #BidenHarris2024
https://www.nytimes.com/2024/06/17/technology/-crypto-influence-election.html

How Crypto Money Is Poised to Influence the Election

The industry’s political awakening — and enormous pool of cash — is already affecting high-profile races across the country.

The New York Times

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Nonilex Jun 17, 2024

That message has become a #political talking point in the #crypto world, as the industry tries to shake off a wave of scandals & establish itself as a powerful force in the #2024election cycle. Three large crypto firms have banded together to finance a group of affiliated #superPACs, investing about $150M to elect pro-crypto candidates in congressional races.

Top crypto execs have tried to mobilize the industry behind #Trump, who has reciprocated by praising digital currencies & hosting execs.

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Nonilex Jun 17, 2024

Many #crypto supporters view the #2024election as a pivotal moment. After a series of firms collapsed 2 yrs ago, the #Biden admin embarked on an aggressive crackdown, bringing #lawsuits & #criminal charges against some of the industry’s figures. The #SEC is pursuing cases that could effectively force the crypto industry out of the #UnitedStates.

“You are seeing a technology become a partisan political issue,” said Brad Garlinghouse, #Ripple, a crypto co that’s sparred w/the govt for yrs.

#law

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Nonilex Jun 17, 2024

…voters’ supposed passion for #crypto may be less important than the industry’s #campaign #WarChest. #Ripple, #Coinbase & the VC firm #AndreessenHorowitz have each donated ~$50M to the crypto #PACs, which plan to spend those funds in several competitive #Senate races. In March, the largest #PAC, #Fairshake, spent ~$10M on attack ads against Rep #KatiePorter, a Dem candidate in the Cali Senate primary who was allied w/ Senator #ElizabethWarren, a longtime crypto critic. Porter lost her race.

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Nonilex Jun 17, 2024

“A single relatively small industry is literally trying to buy enough #politicians to hijack the public #agenda,” said Dennis Kelleher, the president of Better Markets, a #financial #reform advocacy group. “It’s pretty breathtaking.”

President #Biden has long been seen as anti-crypto because his #SEC chair, Gary Gensler, has sued so many #crypto companies. …In recent wks, Biden officials have reached out to #Coinbase & #Ripple, asking to discuss crypto policy….

#law #PAC #BidenHarris2024

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SaanichGuy 🇨🇦🇨🇦Jun 17, 2024

@Nonilex #cyptocurrency is a con game. So #donthecon is now onboard? That should signal how dirty #cypto really is

#TrumpIsAFelon

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Incognitim Jun 17, 2024

@Nonilex
Mark Cuban (who's no fan of trump) said he thinks cryptobros could swing the vote to trump.
Buuut, so could a plethora of other constituencies, like environmental voters. And though I'd think/hope that the vast majority of green voters will turn out for Biden regardless...I also imagine that a fairly sizeable chunk of crypto-voters are dead-set on trump. (Not including the portions of each cohort that will be voting for third parties no matter what).
https://www.newsweek.com/mark-cuban-crypto-biden-sec-regulation-election-1913224

Mark Cuban Warns Biden Official Could Boost Trump's Election Chances

Billionaire and "Shark Tank" star Mark Cuban warns that Joe Biden's SEC chair Gary Gensler could cost him the election

Newsweek

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Steve's Place Jun 17, 2024

@Nonilex It's a huge money laundering machine, and a great opportunity for hackers to steal everything you've got without any recourse. This is the stupidest timeline.

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