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Crypto's Preferred Currency for Political Donations Isn't Bitcoin. It's Dollars

  • Regulation makes giving in crypto harder than greenbacks
  • Political committees have received just $580,000 in crypto
Cryptocurrency Exchanges as Bitcoin Drops Below $40,000
Photographer: Angel Garcia/Bloomberg

Cryptocurrency leaders are spending money to wield influence in Washington as focus on their industry skyrockets, but they don’t seem to be using their own product to do it.

Industry insiders gave $7.3 million to political campaigns and committees in 2021 through the end of January, but almost all of that money came in old-fashioned dollars.