The cryptocurrency industry’s leading super PACs plowed $131 million into congressional races this election cycle to help elect dozens of pro-crypto lawmakers, while individual billionaires with crypto interests spent millions to help return Donald Trump to the White House. Now, they are determined to change how Washington treats their business.
Other Trump allies also are bullish on digital assets, including multibillionaire Elon Musk – who plowed nearly $119 million into electing Trump and has been tapped to help lead a new Department of Government Efficiency whose abbreviation, DOGE, offers a play on Dogecoin, a cryptocurrency promoted by the mogul. Howard Lutnick, who serves as co-chair of the presidential transition, oversees investment bank Cantor Fitzgerald with a client roster that includes the digital currency company Tether.