Crypto Lobbying Makes Insane Splash in American Politics

By: Jai Hamid (Cryptopolitan)

Crypto companies are pouring massive amounts of money into American politics, with spending on crypto lobbying skyrocketing by 1386% over the past seven years. Lobbying expenditures jumped from $2.72 million in 2017 to $40.42 million in 2023. Remarkably, nearly 60% of this spending—$78.94 million—has occurred in the last two years, with 2022 and 2023 marking the largest surges.

Leading the charge are companies like Apollo Global, the Managed Funds Association (MFA), and Coinbase, which spent millions on lobbying efforts in 2023 alone.

Apollo Global tops the list, spending a hefty $7.56 million. The firm has been heavily investing in crypto for its institutional clients and has enjoyed a 158.5% return since 2021, far outpacing the Cryptocurrency Digital Market Index, which grew by 52.3% in the same period. Apollo employed 104 lobbyists in 2023, 78 of whom are “revolvers”—former government employees now using their insider knowledge in lobbying.

Close behind, the Managed Funds Association spent $4.11 million in 2023. Representing financial heavyweights like BlackRock and Citadel, the MFA has been advocating for policies favoring alternative assets, including crypto. They hired 32 lobbyists, 25 of whom are also revolvers, to advance their agenda…

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