U.S. crypto industry lobbying efforts hit record high in 2023
OpenSecrets researchers have found that the cryptocurrency industry is on track to set a new record for federal lobbying spending. The record spending comes after a year in which firms struggled to rebuild their reputations and push for friendlire legislation, according to Reuters. In total, cryptocurrency firms spent $18.96 million over the three quarters of 2023. However, during the same period in 2022, $16.1 million was spent. In total, firms spent nearly $22 million on lobbying in 2022, including the failed crypto exchange FTX. Coinbase (COIN.O), the largest US crypto currency exchange, again topped the list with $2.16 million spent, followed by Foris DAX, which operates Crypto.com, Blockchain Association and Binance Holdings. You might also like: Coingecko: Coinbase tops crypto lobbying spenders in 2023 Experts point out that cryptocurrency companies are partly trying to improve their reputation after a string of scandals last year, including the collapse of FTX...