As Bitcoin prices begin the anticipated decline, leading companies in the cryptocurrency sector are preparing for 2024. A topic we have emphasized since the beginning of 2023 is the US Presidential race that will continue until November 2024, and how this period is critical for the cryptocurrency world.
What are US-based cryptocurrency companies doing to change the negative approach towards cryptocurrencies? There are millions of cryptocurrency investors in the US, and this situation does not prevent them from voting. Therefore, US-based companies should provide the necessary support to politicians who encourage innovations in their field.
A significant portion of the new presidential candidates have already started making crypto-friendly statements. Ripple‘s CEO stated that the US cannot continue to fall behind on the global stage and that other countries are benefiting from the US’s lack of leadership.
Cryptocurrency lobbying in the US took a hit after the collapse of Sam Bankman-Fried. While crypto-opposing politicians try to turn every incident to their advantage, Warren and others are trying to make regulations that will strangle cryptocurrencies.
Venture capital giant Andreessen Horowitz, the US cryptocurrency exchange Coinbase, and a campaign supported by Cameron and Tyler Winklevoss have raised $78 million to support crypto-friendly politicians. Fairshake, one of the super PACs connected to the group, has already spent $1.2 million on television ads supporting House of Representatives candidates. The other two super PACs, Protect Progress and Defend American Jobs, have not yet started their activities.