Jesse Hamilton is CoinDesk's deputy managing editor for global policy and regulation. He doesn't hold any crypto.
The crypto industry has so far gathered about $161 million after Coinbase became the latest company to donate $25 million to its political action committees for this election, which potentially makes it among the most formidable campaign-finance operations in the U.S.
The money is specifically bolstering the coffers of the industry's Fairshake political action committee and its affiliate PACs, which have been combing through state primaries to find congressional candidates who've left their political platforms open to pro-crypto positions. The committees have flooded some little-known politicians with millions in off-book support.
But the actual management and strategies of Fairshake — including its ongoing level of involvement with the donors backing it — remain opaque, because its main supporters decline to answer management questions and the PAC’s organizers won’t comment on such details.
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