“The cryptocurrency industry has been throwing money into politics unlike ever before, and that’s even after political donations from the industry skyrocketed in the 2022 election cycle. Despite the relatively small size of the industry, it has become one of the biggest spenders in the upcoming elections in the United States. Cryptocurrency companies have raised hundreds of millions of dollars to put towards buying crypto-friendly politicians and ousting those who have spoken up for stricter regulations to protect consumers in an industry that is fraught with hacks, scams, and fraud. Although parts of the industry have tried to portray this as a grassroots effort, the reality is that a very small number of crypto companies, and the billionaire executives and venture capitalists behind them, are spending millions with a singular goal: to obtain favorable crypto policy, no matter the cost. This website shines a much-needed spotlight on this spending, without the veneer of press releases in which these companies and executives still try to claim to be “apolitical” or “non-partisan”. Most of the money in the war chests amassed by cryptocurrency-focused PACs has yet to be deployed, and this project will give you a real-time view into where it’s being spent, by whom, and for whom. Join me in following the crypto…Follow the Crypto is a project by Molly White, an independent technology writer, researcher, and software engineer. She is also the force behind Web3 is Going Just Great, where she documents only some of the many disasters in the cryptocurrency and web3 industries. She writes about crypto and about technology much more broadly in the Citation Needed newsletter.”
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