Will Crypto Lobbying Pay Off? ($)
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- 🤑 a16z Pours Another $23M into Crypto-Friendly Fairshake PAC. Andreessen Horowitz makes a massive contribution to Fairshake PAC.
- 👋 Ethereum Researchers Leave EigenLayer Advisory Roles. Two top Ethereum researchers have stepped back from EigenLayer advisory roles to mitigate community concerns.
- 💰 Michigan Joins the Growing List of States Investing in Crypto. Michigan's state pension fund reveals over $10M in Ethereum ETF Holdings.
📸 Daily Market Snapshot: Crypto markets sold off ahead of Tuesday's presidential election. Whether the sell-off mirrors a sudden decrease in Trump's lead across prediction market platforms or merely forecasts investor fears of a sell-the-news event for the election, BTC dominance is nevertheless pushing higher once again.
| Prices as of 5pm ET | 24hr | 7d |
|
Crypto $2.22T | ↘ 1.9% | ↘ 5.9% |
|
BTC $67,655 | ↘ 2.0% | ↘ 3.2% |
|
ETH $2,385 | ↘ 3.4% | ↘ 7.0% |
|
SUI $1.83 | ↘ 5.3% | ↗ 4.7% |
Once a political afterthought, crypto has swiftly become a focal point in the 2024 Presidential Election.
And while there's certainly been plenty of grassroots energy powering this move, this election has also hosted unprecedented pro-crypto lobbying efforts backed by the industry's most powerful players.
Crypto has become the largest lobbying spender this cycle. Fairshake, which has raised over $200 million from major donors like Coinbase, Andreessen Horowitz, and Ripple, and similar groups have directed their substantial resources toward supporting political campaigns across party lines, all with one goal: helping pro-crypto candidates win.
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