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Crypto Donors Poured Money Into Politics in May Despite Downturn

June 21, 2022, 3:42 PM

Political donations from cryptocurrency brokers, venture capitalists and investors doubled to at least $52 million through the end of May from the first 15 months of the current, two-year midterm election cycle.

Political donations from crypto enthusiasts jumped even as the collapse of the TerraUSD stablecoin led to plunging prices and increased scrutiny of the industry in May.

Ryan Salame, co-Chief Executive Officer of crypto exchange FTX gave American Dream Federal Action $8 million in May, bringing his total contribution to $12 million. American Dream Federal Action has spent $7.6 million backing Republicans. Salame is the super PAC’s sole donor, ...