Crypto Industry Invests $119 Million in 2024 Elections; 7% of Americans Use Crypto, Coinbase Contributes $50 Million

A recent survey indicates that only about 7% of Americans owned or used cryptocurrency in 2023. Despite this limited public appeal, the cryptocurrency industry has invested significantly in the 2024 U.S. elections, contributing a total of $119 million. Among these investments, Coinbase has allocated $50 million to a pro-crypto super PAC named Fairshake, which has supported candidates in numerous congressional races, achieving victories in 36 of the first 42 contests it entered. Additionally, pro-crypto donors are reported to be responsible for nearly half of all corporate donations to PACs during this election cycle. The Defend American Jobs super PAC, funded by major crypto firms including Coinbase and Ripple, has emerged as the largest spender in the Ohio Senate race.