Overall, CME Group has spent the most on crypto lobbying in the last five years.
Cryptocurrency
companies are increasingly investing in lobbying to secure favorable
legislation, with expenditures skyrocketing 922% in the past six years,
according to a recent study by Money Mongers. The report reveals that
crypto lobbying contributions reached almost $26 million in 2022, highlighting
the industry's drive to influence policy in its favor.
Coinbase and CME Group
Lead Crypto Lobbying
Leading the
charge in 2022 were Coinbase, the Blockchain Association, and Robinhood, with
lobbying expenditures of $3.30 million, $1.9 million, and $1.84 million,
respectively. In addition, the report notes that nearly half of the total crypto
lobbying spending in the last six years occurred in 2022 alone.
Significant
growth in lobbying expenditure was observed across various crypto companies. Coinbase's
spending has surged 4,137% in the past six years, while Binance.US has seen a 500%
increase, FTX.US witnessed a 1,340% growth, and Ripple experienced a 2,060% rise
in lobbying expenditure.
The top
five companies contributing the most to lobbying spending since 2017 include
CME Group, Coinbase, Block Inc (formerly Square Inc), the Blockchain
Association, and Robinhood Markets.
“These
individuals and companies aided them in getting specific policies either passed
through the houses or brought to the forefront of the public conscience so that
there is organic support for them as well,” the study stated.
However, lobbying
efforts have not always guaranteed favorable outcomes, with skepticism about
the cryptocurrency industry's impact on the financial world remaining a
challenge.
A Growing Number of
Lobbyists and Revolvers among Crypto Companies
CME Group has been a trailblazer in crypto lobbying, shelling out $8.26 million since
2017. In their push in 2022, they assembled a formidable team of 20 lobbyists, 13
of whom were seasoned revolvers. Meanwhile, Coinbase has consistently increased
its lobbying budget, reaching an impressive $5.595 million over six years. In
2022 alone, they deployed a robust force of 32 lobbyists, with 26 revolvers in
the mix.
Block Inc
(previously Square Inc) has been another major player, investing a total of
$4.56 million in lobbying over six years. In 2022, they strategically allocated
$1.17 million and enlisted a powerful team of 36 lobbyists, including 25
revolvers. On the other hand, the Blockchain Association, the collective voice
of the crypto industry, has dedicated $3.91 million to lobbying since 2017.
Last year, they funneled $1.9 million into their efforts, recruiting 18
lobbyists, 12 of whom boasted experience as revolvers.
Robinhood,
a newcomer to the crypto sector, quickly embraced lobbying efforts, spending
$3.895 million in just three years. In their ambitious 2022 campaign, they
poured $1.84 million into lobbying and assembled a team of 20 lobbyists,
including 12 knowledgeable revolvers.
The Money
Mongers' study utilized data from OpenSecrets, ensuring transparency and
allowing for a comprehensive analysis of the industry's lobbying activities
from 2017 to 2022.
The cryptocurrency market's first bigger lobbying movement occurred as early as 2018. A year later, at least 40 companies in the United States tried to influence policy shaping so that the new regulations would favor the digital asset industry.
Cryptocurrency
companies are increasingly investing in lobbying to secure favorable
legislation, with expenditures skyrocketing 922% in the past six years,
according to a recent study by Money Mongers. The report reveals that
crypto lobbying contributions reached almost $26 million in 2022, highlighting
the industry's drive to influence policy in its favor.
Coinbase and CME Group
Lead Crypto Lobbying
Leading the
charge in 2022 were Coinbase, the Blockchain Association, and Robinhood, with
lobbying expenditures of $3.30 million, $1.9 million, and $1.84 million,
respectively. In addition, the report notes that nearly half of the total crypto
lobbying spending in the last six years occurred in 2022 alone.
Significant
growth in lobbying expenditure was observed across various crypto companies. Coinbase's
spending has surged 4,137% in the past six years, while Binance.US has seen a 500%
increase, FTX.US witnessed a 1,340% growth, and Ripple experienced a 2,060% rise
in lobbying expenditure.
The top
five companies contributing the most to lobbying spending since 2017 include
CME Group, Coinbase, Block Inc (formerly Square Inc), the Blockchain
Association, and Robinhood Markets.
“These
individuals and companies aided them in getting specific policies either passed
through the houses or brought to the forefront of the public conscience so that
there is organic support for them as well,” the study stated.
However, lobbying
efforts have not always guaranteed favorable outcomes, with skepticism about
the cryptocurrency industry's impact on the financial world remaining a
challenge.
A Growing Number of
Lobbyists and Revolvers among Crypto Companies
CME Group has been a trailblazer in crypto lobbying, shelling out $8.26 million since
2017. In their push in 2022, they assembled a formidable team of 20 lobbyists, 13
of whom were seasoned revolvers. Meanwhile, Coinbase has consistently increased
its lobbying budget, reaching an impressive $5.595 million over six years. In
2022 alone, they deployed a robust force of 32 lobbyists, with 26 revolvers in
the mix.
Block Inc
(previously Square Inc) has been another major player, investing a total of
$4.56 million in lobbying over six years. In 2022, they strategically allocated
$1.17 million and enlisted a powerful team of 36 lobbyists, including 25
revolvers. On the other hand, the Blockchain Association, the collective voice
of the crypto industry, has dedicated $3.91 million to lobbying since 2017.
Last year, they funneled $1.9 million into their efforts, recruiting 18
lobbyists, 12 of whom boasted experience as revolvers.
Robinhood,
a newcomer to the crypto sector, quickly embraced lobbying efforts, spending
$3.895 million in just three years. In their ambitious 2022 campaign, they
poured $1.84 million into lobbying and assembled a team of 20 lobbyists,
including 12 knowledgeable revolvers.
The Money
Mongers' study utilized data from OpenSecrets, ensuring transparency and
allowing for a comprehensive analysis of the industry's lobbying activities
from 2017 to 2022.
The cryptocurrency market's first bigger lobbying movement occurred as early as 2018. A year later, at least 40 companies in the United States tried to influence policy shaping so that the new regulations would favor the digital asset industry.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
Bitget's Bitcoin Reserve Ratio Soars Over 300% Following Halving
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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