Close to $22 Million Spent Last Year On Lobbying By Crypto firms
Join Our Telegram channel to stay up to date on breaking news coverage The crypto industry set a new record in 2022 in terms of the amount spent on lobbying in Washington, as companies in the sector spent a total of $21.55 million, more than double the amount spent the previous year. Based on the evaluation of reports by OpenSecrets, which gathered statements from more than 50 industry players, the industry’s lobbying expenditure saw a significant increase from the $8.29 million spent in 2021. According to the report, the top spender was Coinbase, one of the largest cryptocurrency exchanges, which spent around $3.4 million. Other major players in the crypto space, including Blockchain Association, Crypto.com, Binance Holdings, and Ripple, followed, each spending $1.9 million, $1.2 million, $1.1 million, and $1 million respectively on lobbying activities. Notably, these figures only account for direct lobbying expenses and do not include campaign contributions, election fin...