Last week, President Biden signed an executive order on crypto. The move comes amid a rising trend in Washington: crypto lobbyists.
- In 2020, there were 195 lobbyists supporting crypto. In 2021, there were 320.
- Last year, crypto lobbying spend jumped 3x, from $2.8m to $9m.
- Efforts were fueled by big names like Coinbase, Ripple, and the Blockchain Association, with each dropping $2m+.
While the rise is impressive, it’s still a fraction of the spending of the Securities and Investment sector (AKA Wall Street), which spent ~$108m last year.
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