Crypto Lobbying is Booming

According to Bloomberg, “In the first three quarters of 2021, about a third of contributions to Wyoming Republican Cynthia Lummis’s campaign committee came from crypto executives or investors. Lummis, who doesn’t face re-election until 2026, says she’s planning this year to introduce legislation that among other provisions would allow crypto firms to set up their own self-regulatory organization. Donors to her campaign last year included Charles Cascarilla, CEO of stablecoin firm Paxos, and W. Bradford Stephens, managing partner of venture capital firm Blockchain Capital.”

The report continues, “Democrats have also received hundreds of thousands of dollars in contributions, often from the same executives. In the first nine months of 2021, Arizona Senator Kyrsten Sinema, who with Lummis launched the U.S. Senate Financial Innovation Caucus, received at least $107,100 from crypto executives and investors.”

Clearly, this is just the tip of the iceberg.

Author’s note: This is not a sponsored post. I am the author of this article and it expresses my own opinions. I am not, nor is my company, receiving compensation for it.

About Shelly Palmer

Shelly Palmer is the Professor of Advanced Media in Residence at Syracuse University’s S.I. Newhouse School of Public Communications and the CEO of The Palmer Group, a consulting practice that helps Fortune 500 companies with technology, media and marketing. Named LinkedIn’s “Top Voice in Technology,” he covers tech and business for Good Day New York, writes a weekly column for Adweek, and is a regular commentator on CNN and CNBC and writes a popular daily business blog. He’s the Co-Host of the award-winning podcast Techstream with Shelly Palmer & Seth Everett and he hosts the Shelly Palmer #CryptoWednesday Livestream. Follow @shellypalmer or visit shellypalmer.com.

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