Part 3/11:
In a bid to combat this regulatory crackdown, cryptocurrency founders and companies aggressively wielded their financial clout in the 2024 election cycle. With contributions amounting to a staggering $238 million, they sought to influence political outcomes in favor of a more lenient approach to crypto regulation. This considerable spending captured the attention of candidates like Donald Trump, who had previously been a vocal skeptic of cryptocurrencies, describing Bitcoin as a "scam" as recently as 2021. However, by 2024, Trump shifted his stance, vowing to fire Gensler and dismantle the existing regulatory framework governing cryptocurrencies.