Crypto-backed political committees poured $4 million into four Illinois congressional contests with success in three Democratic primaries and one loss in a GOP primary.
A few high-profile races were the latest test of massive political spending by leaders in the cryptocurrency industry boosting candidates on both sides of the aisle, as two GOP incumbents faced off in the 15th Congressional District and 17 Democratic candidates vied for the 1st Congressional District nomination.
The biggest spenders were political committees founded and funded by two CEOs at FTX, the Bahamas-based cryptocurrency exchange platform. OpenSecrets has previously reported on major contributions from crypto leaders, mainly FTX executives, as Washington weighs regulations on the industry.
OpenSecrets data shows two committees broke their own outside spending records during the Illinois primaries. Protect Our Future PAC, formed by FTX founder and CEO Sam Bankman-Fried, backed more candidates in Illinois than...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...