The 2024 US elections are reshaping the cryptocurrency landscape, with crypto donations exceeding $238 million, outpacing contributions from traditional industries like oil and pharmaceuticals.
This surge may prompt lawmakers in Washington to adopt a more favorable stance toward digital assets.
Federal Election Commission data reveals that these donations primarily stem from individual contributions and super PACs. Major contributors like Coinbase, Ripple, and Andreessen Horowitz have donated over $160 million to support pro-crypto candidates, signaling the industry’s desire for regulatory changes.
Both Donald Trump and Kamala Harris have benefited from this influx of crypto funding, with Trump receiving over $22 million and Harris about $12 million, largely from Ripple’s Chris Larsen. As candidates like Bernie Moreno in Ohio actively court the crypto community, the potential impact of a dedicated crypto voter bloc is becoming clear.
However, this significant spending has drawn criticism, with opponents arguing it threatens to distort democratic processes in favor of favorable regulations for the crypto sector. This situation highlights the complexities and challenges the industry faces as it gains political influence.
The first week of July brings several important developments in the United States that could influence both traditional markets and the cryptocurrency sector.
Ric Edelman, one of the most influential voices in personal finance, has radically revised his stance on crypto allocation. After years of cautious optimism, he now believes that digital assets deserve a far larger share in investment portfolios than ever before.
In the case involving Terraform Labs and its co-founder Do Hyeong Kwon, the defense has asked the Federal Court for the Southern District of New York to extend the deadline for pretrial filings by two weeks, pushing it beyond the original date of July 1, 2025.
Coinbase has emerged as the best-performing stock in the S&P 500 for June, climbing 43% amid a surge of bullish momentum driven by regulatory clarity, product innovation, and deeper institutional interest in crypto.