According to research, crypto lobbying spending has increased by about 922 percent in the last six years.
Lobbying has been going on for years in the global economy and operations. Especially in the past, thousands of factors had a direct impact on the functioning of the world due to lobbying activities.
On the crypto side, lobbying efforts continue at full speed. There was a strong 922 percent increase in the spending of popular crypto organizations towards these studies.
Crypto Lobbyists Spend A Lot Of Money
According to a new study, crypto lobbying spending has increased by a factor of ten.
Lobbying efforts, which are described as “bribery” by people who are far from the system, but considered as a part of democracy, also bounced to the crypto side. In the lobbying work, which is protected by the US Constitution and carried out in secrecy in every country, the spending of the crypto industry attracted attention.
In 2022, crypto organizations made lobbying contributions of up to $25.57 billion with the motivation to influence policy in their favor. Last year, the most prominent event was the money FTX spent on lobbying.
Crypto lobbying is advancing with the money they spend so that organizations that want to dominate the industry can carry out the necessary activities as soon as possible.
In 2022, the top three companies to lobby the government to pass more pro-crypto laws were Coinbase, Blockchain Association, Robinhood.
Coinbase spent about $3.39 million on these lobbying efforts, while $1.9 million was spent on the Blockchain Association. Most recently, Robinhood spent $1.84 million on lobbying.
Binance US is also on the list. The organization, the US arm of Binance, spent approximately $960,000 in lobbying in 2022.
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