Former Kraken Executive: Cryptocurrency Campaign Donations Show How Democracy Works


  US President Trump won every swing state in the 2024 election with strong support from the cryptocurrency industry.

Marco Santori, the former chief legal officer of cryptocurrency exchange Kraken, praised the "democracy at work" of political campaign contributions made by cryptocurrency industry businesses to the 2024 election.  In an exclusive interview with Cointelegraph, the former Kraken executive believed that voters in the cryptocurrency space tilted the election results in favor of then-candidate Trump and the Republican Party.

  Additionally, the executive stated that there is no conflict of interest with donations from cryptocurrency businesses, many of which are currently avoiding regulatory lawsuits. "Opponents only call it a conflict of interest when it's a cause they don't support, otherwise, it's just democracy at work," Santori stated to Cointelegraph. These people are speaking for their interests — people like you and me.  That's what's happening, and that's what happened in the last election."

  "Look at what happened in November.  Who can deny that crypto voters turned out 4% to 5% of the vote?"   "In American elections, it's a huge influencing factor among different groups of people in different states," Santori added.

In September 2024, Dr.  Anthony M. According to Evans, a law professor at Pennsylvania State University, voters in the cryptocurrency sector have the right to vote to influence the outcome of the 2024 US election, which will have a very narrow margin of victory or defeat.  The cryptocurrency industry is betting big on the 2024 US election.

  Almost half of all corporate political campaign donations during the 2024 US election cycle are from the cryptocurrency industry.

  According to data from the non-profit watchdog group Public Citizen, digital asset companies donated more than $119 million to support crypto-friendly candidates and policies in the U.S. election of 2024.

This includes funding for presidential and congressional elections, such as Rep.  The cryptocurrency political action committee FairShack spent $760,000 on last-minute media ads supporting Brian Steele's reelection campaign.  Mick Mulvaney, a former White House chief of staff, claims that the cryptocurrency industry has established a professional lobbying presence in recent elections, something that was lacking in both the 2016 and 2020 elections.  The cryptocurrency industry's lobbying activities are seen as a catalyst for Republicans to win both houses of Congress, the popular vote and the presidency in 2024.

  Related Recommendations: Wiley Nickel says: To achieve lasting changes in cryptocurrency regulation, relevant mechanisms must be approved by the US Congress.

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