Crypto’s Capitol Clout Soars on Fundraising, Gillibrand Rise (1)

The crypto industry is on a roll in Washington and it’s not just because of President Donald Trump.

A key ally is rising in the Democratic party and the industry just demonstrated its political might by sweeping away a long-entrenched antagonist with a flood of campaign money.

Crypto-friendly stablecoin legislation is poised to pass the Senate after years of the industry’s Capitol Hill agenda languishing. Prospects for other priorities also are improving.

Democratic Senator Kirsten Gillibrand of New York, a long-standing supporter of the crypto industry, moved up in her party’s leadership ranks to head election fundraising. She’s put ...