Crypto Industry Plans $130 Million Spending Spree, Including $21 Million for Republicans Ahead of November 5 Election

The cryptocurrency industry is significantly increasing its financial influence in the upcoming 2024 congressional elections, with a total spending of $130 million aimed at supporting candidates, particularly Republicans. Notably, groups advocating for pro-crypto candidates are expected to spend an additional $21 million on advertising to bolster Republican campaigns compared to Democratic ones. This spending surge comes as the election approaches, with key races being targeted by crypto political action committees (PACs). The focus on Republican candidates reflects a strategic alignment of the crypto industry with GOP interests as the November 5 election date nears.