alt Hacker NewsCrypto firms have spent $189M so far on 2026 US election, report says
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A UK party rising up the charts is caught up in a scandal - crypto guy gave the party leader (personally) £5m which he failed to declare and he started the party a few days later indicating he was paid to start the party.
It came out when Crypto guy gave an interview and mentioned it not realising the consequences.
The party leader first claimed it was for security.
Then it was determined he had bought property with it.
https://www.channel4.com/news/factcheck/factcheck-nigel-fara...
Andreessen Horowitz - $51.65m... are they the Goldman Sachs (Vampire Squid) of the Tech world?
The first thing you need to know about Goldman Sachs is that it’s everywhere. The world’s most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.
https://www.rollingstone.com/politics/politics-news/the-grea...
Looks a little bit sensational and .. very much misleading
1- The largest donor, a16z is certainly invested in Crypto, but that's a venture capital firm, not crypto firm.
2- Fairshake PAC is basically a Crypto PAC, so it's obvious that Crypto firms are funding that PAC, right. I quote Wikipedia:
> Fairshake is a Super PAC funded by the cryptocurrency industry that supported pro-cryptocurrency candidates in the 2024 United States elections.[2][3][4][5] Major contributors include Coinbase, Ripple, and Andreessen Horowitz.[6] Fairshake spent nearly twice as much on Republican candidates than on Democratic candidates.[7]
That PAC doesn't look like they are ideologically oriented, they just care about whether a candidate is pro crypto or not, whether it's dems or reps.
3- Leading the Future is not even a Crypto PAC at all, it's an AI PAC
I spent nothing on US election this year and nothing in all previous years.
Partly, because I am not from US, but largely because I have no interests to lobby!
Are elections that run on donations can be considered truly democratic?
Is this a little or a lot? any idea how that compares to other industries and donors?
The fact that political spending is considered free speech in the US gives the rich and already powerful massive sway in the political system, it is basically tiled hard towards them. And then combined with how PACs hide their funding behind names like "Everyday Americans Making the World Better" when really it just wants to lessen online gambling laws for a billion dollar company, is just brutal. US politics is a dystopian future realized.
It can't be worse than the banks.
It's a shame the crypto industry is so scummy it makes people avoid real improvements on the monetary system made by Monero.
Related:
Tech Influence Watch site: https://influence.citationneeded.news/ (https://news.ycombinator.com/item?id=48632474)
Blog post: https://www.citationneeded.news/tech-influence-watch/
Crypto firms have supplied more than one-third of all corporate money so far in this year's elections
Fairshake has received $82 million in contributions this cycle
Crypto, AI, big tech and online betting firms have spent $294 million combined on 2026 elections
June 30 (Reuters) - Cryptocurrency companies have spent $189 million so far to influence the 2026 U.S. midterm elections, outpacing their spending for the previous election cycle, according to a new report, opens new tab from Public Citizen, a consumer advocacy organization. More than one-third of all corporate money contributed to this year's November elections, and primary elections leading up to them, has come from the crypto industry, making it the top corporate political spender, the group said.
The Reuters Daily Briefing newsletter provides all the news you need to start your day. Sign up here. Crypto was also the top corporate donor in the 2024 election cycle, when it contributed $170 million and many of the congressional candidates it boosted won their races.
Companies in the artificial intelligence, big tech and online betting sectors have also contributed heavily. Combined with crypto, they have spent $294 million on the 2026 elections so far. In November, the full House of Representatives will be up for reelection, along with roughly a third of the Senate.
"The big takeaway is that corporate money is playing a bigger role than ever in our elections, and it's only expanding," said Rick Claypool, a research director at Public Citizen and the author of the report.
Related:
The AI industry is pouring millions into US elections
"Very legal and very cool"
As far as the US is concerned, given how badly bitcoin has done since Trump was inaugurated, the worst performing asset class by far, I would say the ROI has been pretty bad. Industries and sectors that donated nothing still got bailouts and other initiatives, such as AI, quantum, metals, and semiconductors. Noting for crypto donors. No bailouts, or even mentions on twitter. Politicians can take money but they don't have to honor their end of the deal to give anything in return.
And as if to sprinkle salt on the wounds, the Supreme court today allowed unlimited spending by political parties 'in coordination with allied interests(read the money class)' https://news.ycombinator.com/item?id=48734220
Moneyed interests have always jockeyed for power, but earlier they were held somewhat in check by Congress which had to listen somewhat to voters. With Citizens united in 2010 and corporate media driving polarization to new heights, big money has been able to drown out ordinary voters at at unprecedented scale.
No wonder, the 1% have never had it so good, when they can literally buy the govt they want. Looks like we're headed back to the gilded age and robber barons.