Big Crypto is now spending more on US elections than any other industry
www.businessinsider.com
Crypto companies have already funneled some $119 million into federal elections, according to data from Public Citizen.

The crypto industry is making its mark on this year’s elections to the tune of some $119 million.

The funding has largely come from two companies — Coinbase and Ripple — which are funneling money into super PACs like Fairshake PAC, which is dedicated to “elevating pro-crypto candidates and attacking crypto skeptics,” according to Public Citizen.

At the 2024 bitcoin conference in Nashville in February, Trump — who called bitcoin “highly volatile and based on thin air” in 2019 — said he’d lay out a plan “to ensure that the United States will be the crypto capital of the planet and the bitcoin superpower of the world.” Trump has already won the backing of several crypto enthusiasts, including his running mate JD Vance, who owns at least $250,000 in bitcoin.

    • sour@feddit.orgEnglish
      302·
      4 months ago

      No, you don’t. The same way I don’t have to justify using nextcloud vs gdrive because nextcloud uses a lot more energy per user since it’s self hosted.

      Bitcoin uses an absurd amount of energy for its popularity and use. Period.

    • magic_lobster_party@fedia.io
      141·
      4 months ago

      and you’d have the same problem cryptocurrency has.

      No, that’s not going to happen. The reason why cryptocurrencies must rely on a consensus algorithm is because the order of transactions matter. One transaction can make another transaction impossible depending on which one comes first.

      Fediverse doesn’t have this strict condition. No post and comment can make another impossible. It’s also not the entire world if a post is lost.