How tech bros bought Americas most pro-crypto Congress ever
Summary
Advocacy group Stand With Crypto Alliance, which Coinbase launched last year, developed a grading system for House and Senate races across the country as a way to help determine where money should be spent. For over a year, Moreno was grilled by Silicon Valley heavy hitters like Marc Andreessen, Ben Horowitz and David Sacks about blockchain technology, digital asset policy and the shifting terrain of global finance. As the price of bitcoin has multiplied by about sixfold in the past four years, SEC Chairman Gary Gensler has taken major crypto players like Coinbase and Ripple to court for allegedly selling unregistered securities and has avoided working with companies to develop new specialized regulations. As FTX was spiraling into bankruptcy, Brown on Nov. 10 retweeted a post from the Senate Banking Committee calling the event "a loud warning bell that cryptocurrencies can fail" and can "have a ripple effect on consumers and other parts of our financial system." Defend American Jobs, another one of Fairshakes affiliated PACs, spent more than $3 million to support Republican Jim Justice in West Virginia, who will take the former seat of Democratic Sen. Joe Manchin when the new session gets underway in 2025.