Big Crypto Is Spending More on US Elections Than Any Other Industry
The crypto industry is making its mark on this year's elections to the tune of some $119 million.
The funding has largely come from two companies — Coinbase and Ripple — which are funneling money into super PACs like Fairshake PAC, which is dedicated to "elevating pro-crypto candidates and attacking crypto skeptics," according to Public Citizen.
At the 2024 bitcoin conference in Nashville in February, Trump — who called bitcoin "highly volatile and based on thin air" in 2019 — said he'd lay out a plan "to ensure that the United States will be the crypto capital of the planet and the bitcoin superpower of the world." Trump has already won the backing of several crypto enthusiasts, including his running mate JD Vance, who owns at least $250,000 in bitcoin.
Crypto billionaires are billionaires “on paper.” By that, I mean, they can’t get their money OUT of crypto unless millions of people buy INTO crypto. So, of course, they are trying to mainstream it.
They need suckers to hold their bags
It's just another form of Ponzi Scheme.
Crypto is the currency of the confidence game. The value isn't in the crypto, it's in the people trading actual money who've bought into it.
Network Effect and Winner Take All Market