Cryptocurrency companies contributed nearly 50% of political donations during the 2024 election cycle, totaling $119 million

ChainCatcher message, according to a report released by the corporate watchdog Public Citizen on Wednesday, nearly half of corporate political donations in the 2024 election cycle are coming from cryptocurrency companies.

The report by Public Citizen is based on data provided by the government transparency organization OpenSecrets, which found that so far, 48% of corporate election spending comes from crypto companies like Ripple and Coinbase. The vast majority of these donations have flowed into super political action committees (PACs) that support cryptocurrency, such as Fairshake.

The report notes that of the $203 million raised by Fairshake, $107.9 million came directly from crypto companies, with the remainder coming from prominent figures in the tech and crypto industries, including large donations from the Winklevoss brothers and Coinbase CEO Brian Armstrong.