The crypto industry has spent roughly US$176 million across more than 100 midterm races this election cycle, as part of a yearslong plan to build a bipartisan coalition of allies in Congress that can advance its interests long after United States President Donald Trump leaves office.
The US$2.75 trillion industry, and the billionaires who built it, are aggressively spending to elect friendly candidates while targeting politicians they see as a threat, according to interviews with crypto political strategists and a Reuters review of the spending.
The industry isn't just looking for allies; it is trying to pick candidates who already have a chance of winning, and can help once they get to Congress, the strategists said.
