Coinbase's cryptocurrency lobbying spending has surged 34 times since 2017, reaching $2.86 million

ChainCatcher news, according to the report "Social Capital Market", Coinbase has increased its lobbying expenditure by 3,475% over the past seven years. The cryptocurrency exchange's spending rose from $80,000 in 2017 to $2.86 million in 2023.

Ripple Labs also increased its lobbying expenditure from $50,000 to $940,000 during the same period, a growth of 1,780%. Binance.US's lobbying expenditure grew by 656%, reaching $1.2 million in 2023. Tether, Uniswap, and Block Inc. also spent $1.2 million, $280,000, and $1.7 million on lobbying in 2023, respectively.

The total lobbying expenditure of the entire cryptocurrency industry has increased by 1,386% since 2017.