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While the industry has come under fire with the Biden administration, cryptocurrency companies have donated to both Democratic and Republican candidates.
Coinbase and Ripple are responsible for 80% of donations this election cycle. Both of which have come under scrutiny by the Biden administration for allegedly violating securities laws. Out of the 42 candidates in primary races that received funding from crypto-backed super PACs, 36 won their race. are both vying to gain the backing of the crypto industry, which is outperforming big oil companies and banks in donations.
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