How the US elections will shape the future of crypto
US Senator Cynthia Lummis, the first US senator to own crypto, is now proposing that the United States should create a national Bitcoin reserve to secure the country’s financial future and leadership in global finance. In its boldness and potential to help the United States lead in the “next financial frontier, she likens it to the Louisiana Purchase.
Lummis has been staunchly in the pro-crypto camp from the early days. However, now she has several more Washington bigwigs on her side. Chief among them is Republican candidate and former US President Donald Trump. Even Democrats, who were tough on crypto during Biden’s administration, seem to be softening their stance.
The crypto industry has already donated a record $119 million to political campaigns this cycle. This contribution — mainly through a Coinbase backed super PAC called Fairshake— amounts to nearly half of all the political contributions made in the current cycle. These contributions are not limited to any one political party. The industry is strategically backing candidates across party lines who align with their vision for a more innovation-friendly regulatory environment. This approach reflects the broader importance of crypto as an economic force and a potential
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