Crypto Lobbying Spending Soars to Near-Record Highs Despite Industry Scandals
• Crypto industry lobbying spending on track to hit a new record high in 2023, reaching $18.96 million in the first 3 quarters • Coinbase leads spending at $2.16 million, followed by Crypto.com, Blockchain Association, and Binance • Crypto firms lobbying to repair reputations after scandals like FTX collapse, and pushing back against regulatory scrutiny • Companies lobbying SEC to approve bitcoin ETF, and advancing bills in Congress to provide regulatory clarity • Coinbase, Binance, Crypto.com continuing lobbying efforts with lawmaker meetings and grassroots campaigns