Everything gets politicized, including crypto, says former POTUS candidate Andrew Yang
Although cryptocurrency may still be misunderstood on Capitol Hill, crypto is becoming more political as its influence gains traction. For instance, lobbying by those involved in the cryptocurrency industry has reached new heights. A report from the nonprofit consumer advocacy group Public Citizen found that the number of lobbyists for cryptocurrency-related issues rose from 115 in 2018 to 320 in 2021. The report further indicated that the number of representatives within the cryptocurrency industry increased from 47 to 157 during that time period.
The United States midterm elections — set to take place on November 8, 2022 — are further demonstrating the politicization of crypto. This has become evident as a number of crypto holders continue to invest big in political campaigns across the country. For example, Sam Bankman-Fried, CEO of crypto exchange FTX, has helped raise over $14 million for “Protect Our Future,” a political action committee supporting candidates running for seats in the U.S. House of Representatives.
The influence crypto is having on politics was also recently demonstrated at the SkyBridge Alternatives Conference (SALT), which took place in The Bahamas this year. The event, which attracted over 2,000 attendees, featured a number of global leaders during panel discussions, including former U.S. presidential and New York City mayoral candidate Andrew Yang.
Yang conducted a keynote at the SALT conference entitled “How Governments Can Empower the People with Crypto.” Following this discussion, Cointelegraph spoke with Yang about his views on crypto being leveraged for political campaigns and universal basic income (UBI).
Yang also mentioned his plans for the future of crypto in politics, discussing how
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