The 2024 U.S. election was a big deal for crypto; it showed its strength in politics like never before. With $119 million in donations and voters who changed the election’s outcome, the business changed who led the country. He calls it “democracy at work”—not a conflict of interest—Marco Santori, who used to work for Kraken.
Crypto Industry Impact on the 2024 Election
The 2024 U.S. election was a turning point in the history of the bitcoin industry. Digital asset firms had a big impact on the election results. Marco Santori, who used to be the top legal officer at Kraken, said that the company’s donations were a great example of democracy at work. Crypto companies gave nearly $119 million to political campaigns to back crypto-friendly candidates in a wide range of races. This huge amount comprised almost half of all business campaign donations during the cycle. This made crypto one of the most important industries in the election.
Crypto Voters Changed Politics
Santori said crypto voters were a key factor in the election that tipped the balance between Trump and the Republican Party. He thought crypto affected between 4% and 5% of the votes, which was a big enough difference to decide the election result. Law professor Dr. Tonya M. Evans said earlier that the 2024 elections would be decided by very small scores, which makes crypto voters an important group.
No conflict, just workplace democracy
Even though there were worries about regulatory favoritism, Santori denied claims of conflicts of interest, stressing that every business works to protect its interests. He said that crypto companies giving money to politics was the same as companies from other fields giving money to politics. Mick Mulvaney, who was White House Chief of Staff, said that the crypto industry’s professional lobbying helped the GOP win both houses of Congress, the popular vote, and the president.
Conclusion
The 2024 election showed that the crypto business is no longer a small part of politics but a strong force that can change laws. Crypto companies showed how powerful it is to work together by giving huge amounts of money, lobbying smartly, and swaying voters.
