Two recent events illustrate how cryptocurrencies continue to flow. Sen. Kirsten Gillibrand (D-N.Y.) will hold a campaign fundraiser in Manhattan in September to clarify how cryptocurrencies should be regulated, according to an invitation seen by attendees and officials. He made encouraging comments about the bill being passed by Congress. Barons. Entrance fees for the event, held at the crypto executive’s SoHo apartment, ranged from $500 to $21,600 per person.
A day earlier, dozens of crypto executives hosted a fundraiser for Republican presidential candidate Vivek Ramaswami, who attended an industry conference in New York. Participation fees ranged from his $1,000 for a ticket to his $6,600 for co-hosting. “If we want to prioritize cryptocurrencies as a campaign issue, we need to show candidates that our support matters,” reads the invitation.
Crypto and Washington DC seem to be locked in a mutual embrace. Cryptocurrency companies spent nearly $6.6 million on lobbying in the second quarter, the highest amount of any quarter, according to federal records compiled by OpenSecrets.org. Since 2020, the industry has spent more than $45 million on lobbying, while employees of cryptocurrency companies, primarily led by FTX and its founders, Sam Bankman Freeddonated $98 million to the campaigns of members of Congress.
