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Crypto’s Shiny New Political Machine
Despite its comparatively small size and the continued absence of any obvious mainstream utility, the crypto industry is hurling more money than any other at the US general election.
On August 14, Crypto4Harris hosted a virtual town hall attended by prominent Democrats, among them Senate majority leader Chuck Schumer, who said he “believed in the future of crypto.” The group has also “made headway,” Padilla claims, with “finance and policy folks” inside the Harris camp. The group’s access to the Harris team reflects a sea change in the attitude toward crypto among US politicians, who seem to have accepted that there exists a bloc of voters who will cast their ballot based exclusively on which candidate will send their investments to the moon. Coinbase declined an interview request, pointing instead to public comments made by Paul Grewal, its chief legal officer, disputing the characterization of the company as a federal contractor on the grounds that the service it provides is not technically funded by tax revenue.
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