January 28, 2022, 8:55AM EST · 1 min readA cadre of crypto industry leaders announced Friday the formation of a new political action committee , the latest sign that crypto riches made in recent years are bleeding into the American political system and executives want to influence election outcomes.
The PAC's founding donors and board of directors include CMS Holdings co-founder Dan Matuszewski, Framework Ventures co-founder Vance Spencer, and FTX Digital Markets CEO Ryan Salame. The PAC plans to spend more than $20 million in the 2022 cycle and is currently evaluating candidates in Texas ahead of the March 1st primary.The crypto market has seen its participants increasingly flex their muscles in the face of mounting skepticism among the upper echelons of the Washington political class.by The Block, data from the Federal Election Commission shows that Coinbase spent $1 million in total lobbying expenses in the fourth quarter of 2021.
they better act quick because yellen and warren seek to have completed their dirty before the midterm elections.
GMI PAC lol
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