In total, crypto-related PACs and other groups tied to the industry reeled in over $245 million, according to Federal Election Commission data. Crypto accounted for nearly half of all corporate dollars that flowed into the election, according to nonprofit watchdog Public Citizen. Advocacy group Stand With Crypto Alliance, which Coinbase launched last year, developed a grading system for House and Senate races across the country as a way to help determine where money should be spent.
Crypto execs, investors and evangelists saw the election as existential to an industry that spent the past four years simultaneously trying to grow up while being repeatedly beaten down. Nearly 300 pro-crypto lawmakers will take seats in the House and Senate, according to Stand With Crypto, giving the sector unprecedented influence over the legislative agenda.