Crypto lobby spending in the US has surged by 1,386% since 2017, including a huge jump in the last two years.
Crypto lobbying has skyrocketed over the past few years, with a handful of key companies driving advocacy efforts to influence legislators in the United States.
Coinbase, for instance, has increased its lobbying expenditure by 3,475% over the past seven years, according to a Social Capital Markets report on Sept. 5. The crypto exchange’s spend increased from $80,000 in 2017 to $2.86 million in 2023.
Another crypto firm pouring large sums of money into influencing legislators was Ripple Labs. Over the same period, the firm saw a 1,780% increase in lobbying costs, from merely $50,000 to $940,000 in 2023.
