Mmastodon WorldUS Politics first seen 2 d ago, last 2 d ago, peak #6
Crypto industry pulls back campaign spending on Democrats
Original: Crypto has also stopped spending big for Democrats in general elections. In 2024 it put $10M apiece behind Slotkin and G
Cryptocurrency industry political spending has shifted sharply away from Democrats. In 2024, industry-backed groups put about $10 million each behind Senators Elissa Slotkin and Ruben Gallego. This cycle, no Democrat has received more than roughly $1 million in crypto support, and those funds have gone mainly to safe incumbents who voted in line with the industry's positions.
Why now: Observers are tracking the crypto industry's changing allegiances ahead of the upcoming US election cycle.
Elissa SlotkinRuben Gallegocryptocurrency industryDemocratic Party
Evidence
- Crypto has also stopped spending big for Democrats in general elections. In 2024 it put $10M apiece behind Slotkin and Gallego. This cycle, no Democrat has drawn more than about $1M, and those are safe incumbents who voted the industry’s way. # crypto # cryptocurrency # AI #… · molly0xfff@hachyderm.io · 30
API: https://socialmediatrends-api.osmike.com/v1/trends/4762608