PYPL - Crypto Lobbysists Spent Over $56M On Lobbying In 2023: Did It Make A Difference? | Benzinga
From 2019 through 2023, the cryptocurrency industry in the U.S. invested a total of $56.44 million in lobbying efforts, according to CoinGecko.
What Happened: So far this year, the crypto industry's lobbying spending in the U.S. is about $20.2 million, excluding fourth-quarter (Q4) figures.
This amount already represents 19.7% of Wall Street's lobbying spend, indicating a potential overtaking of 2022's total and suggesting a growing influence of the crypto industry in Washington.
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Up to 78 companies and organizations — including Andreessen Horowitz (A16Z), OKX, Polygon, Solana, and the media brand Discover Crypto (formerly Bitboy Crypto) — are actively advocating for crypto-related matters in Washington, D.C.
From 2019 to 2020, these efforts saw relatively modest spending in crypto lobbying, amounting to about $3 million and $2.5 million, respectively.
These figures represented a mere fraction of Wall Street's lobbying expenses, at 2.9% and 2.3% for each year, ...