Behind the 2024 usa election, a strong capital force has emerged - the cryptos industry.

Especially with the return of Trump 2.0, his pro-cryptos stance has boosted the industry. On Sunday, $Bitcoin (BTC.CC)$ having once approached 0.1 million dollars before retreating, it is now at 98,185 dollars each.

For many years, senior figures and investors in this industry have invested hundreds of millions of dollars, helping to elect many pro-cryptos candidates in the elections, ultimately resulting in the most supportive Congress for cryptos in usa history.

This political struggle not only influenced the election results but also laid a political foundation for the future of the cryptos industry.

The cryptos industry has seen an investment of over 0.245 billion dollars.

According to data from the Federal Election Commission (FEC) in the usa, political action committees (PAC) related to the crypto industry and other organizations supporting this industry have raised over $0.245 billion for the 2024 elections.

The size of this amount is astonishing, especially as cryptos account for inflow into the election funding, which represents nearly half of all corporate donations.

This year, many big names in the crypto industry have 'generously opened their wallets' to donate to congressional campaigns.

Documents from the FEC show that the Winklevoss brothers (Cameron and Tyler) are the individuals who donated the most in cryptos this election cycle, with a total of up to $10.1 million. Executives from Ripple also donated millions, with founder Chris Larsen contributing approximately $12 million.

Coinbase CEO Brian Armstrong donated over $1.3 million to PACs including Fairshake and JD Vance for the Senate elections. He also made direct donations to candidates for both Democratic and Republican House and Senate seats.

Investment from the crypto industry is not just simple donations; it has changed the entire electoral landscape by carefully selecting candidates and precisely deploying funds. According to Stand With Crypto, nearly 300 lawmakers supportive of cryptos will take office in the House and Senate.

One typical example is Bernie Moreno, who successfully defeated long-time Banking Committee chair Sherrod Brown in 2024. Companies like Coinbase provided him with funding of up to $40 million.

Political strategy of the crypto industry.

The success of the crypto industry is due to its adoption of a strategy that is completely different from traditional lobbying methods. Unlike previous years, this time the crypto industry did not engage in large-scale lobbying post-election like traditional industries.

According to CNBC, crypto companies and industry executives did not wait until after the election to exert influence, but instead intervened early, actively supporting candidates who favored cryptos, and concentrated funds to attack political forces opposed to cryptos.

Particularly, crypto giants like Coinbase donated over $75 million through their super PAC—Fairshake, supporting dozens of pro-crypto candidates.

Armstrong wrote on X after Moreno's victory:

"Anti-crypto is simply bad politics."

"Welcome to the Congress that has ever been the most supportive of cryptos in the usa."

The forces opposing cryptos are not weak either. Gary Gensler, the chairman of the Securities and Exchange Commission (SEC), is one of the biggest opponents of the crypto industry, and has long pushed for strict regulatory policies aimed at limiting the development of this industry.

Gensler has sued major crypto companies like Coinbase and Ripple, accusing them of selling unregistered securities and avoiding collaboration with these companies to develop new regulations specifically for them.

For example, Brown collaborated with Elizabeth Warren and others to push for strict legislation against cryptos. Brown also called for stricter regulation following the collapse of the crypto exchange FTX.

However, in the 2024 election, the crypto industry successfully defeated several opposing candidates through financial support, especially those politicians attempting to suppress the crypto industry.

As pro-crypto legislators enter the usa Congress, the crypto industry will occupy an increasingly important position in future legislation and policy-making.

In Trump's campaign promises, he stated that if elected, he would fire the SEC chairman and appoint regulators who are more supportive of cryptos. This commitment further enhanced the political operations of the crypto industry.

Armstrong wrote on X on November 5:

"Welcome to the most pro-crypto Congress in usa history."

Editor/rice