{"id":25833,"date":"2025-04-12T09:01:24","date_gmt":"2025-04-12T09:01:24","guid":{"rendered":"https:\/\/medexperts.pro\/?p=25833"},"modified":"2025-04-12T09:33:07","modified_gmt":"2025-04-12T09:33:07","slug":"how-the-crypto-industrys-political-spending-is-paying-off","status":"publish","type":"post","link":"https:\/\/medexperts.pro\/?p=25833","title":{"rendered":"How the Crypto Industry\u2019s Political Spending Is Paying Off"},"content":{"rendered":"
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At the end of a three-hour hearing<\/a> last month, Senator Ruben Gallego, Democrat of Arizona, sided with a group of Republicans in a hotly contested debate. He voted to advance the GENIUS Act, a bill backed by the cryptocurrency industry.<\/p>\n

\u201cIt\u2019s clear that digital assets are here to stay,\u201d Mr. Gallego said<\/a> after the Senate Banking Committee hearing. Breaking from the committee\u2019s top Democrat, he called the bill a \u201cstep in the right direction.\u201d<\/p>\n

The vote, 18 to 6, was only preliminary, advancing a bill that will require approval from the full Senate. But in the crypto world, it was celebrated as a moment of vindication.<\/p>\n

Mr. Gallego is part of an increasingly influential cohort in Congress: beneficiaries of the crypto industry\u2019s largess. During a tight Senate race last year, he was aided by $10 million from super PACs financed by three large crypto companies, including the Coinbase digital currency exchange. The money funded ads that promoted Mr. Gallego\u2019s military service<\/a> and support for border enforcement<\/a>.<\/p>\n<\/div>\n<\/div>\n

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Now he and dozens of other lawmakers supported by the super PACs are taking steps in Congress to advance crypto priorities, handing a series of long-awaited victories to an industry with an extensive history of fraud and volatility.<\/p>\n<\/div>\n<\/div>\n

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\u201cIt\u2019s clear that digital assets are here to stay,\u201d Senator Ruben Gallego, an Arizona Democrat, said after a recent Senate Banking Committee hearing. <\/span>Eric Lee\/The New York Times<\/span><\/span><\/span><\/figcaption><\/figure>\n<\/div>\n<\/div>\n
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We are looking into how the Trump administration and Congress are dealing with the crypto industry, and are interested in all tips. Please reach out to David Yaffe-Bellany or Sharon LaFraniere over email, Signal or through this reader call out.<\/h2>\n<\/header>\n
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At the end of a three-hour hearing last month, Senator Ruben Gallego, Democrat of Arizona, sided with a group of Republicans in a hotly contested debate. He voted to advance the GENIUS Act, a bill backed by the cryptocurrency industry.\u201cIt\u2019s clear that digital assets are here to stay,\u201d Mr. Gallego said after the Senate Banking Committee hearing. Breaking from the committee\u2019s top Democrat, he called the bill a \u201cstep in the right direction.\u201dThe vote, 18 to 6, was only preliminary, advancing a bill that will require approval from the full Senate. But in the crypto world, it was celebrated as a moment of vindication.Mr. Gallego is part of an increasingly influential cohort in Congress: beneficiaries of the crypto industry\u2019s largess. During a tight Senate race last year, he was aided by $10 million from super PACs financed by three large crypto companies, including the Coinbase digital currency exchange. The money funded ads that promoted Mr. Gallego\u2019s military service and support for border enforcement.Now he and dozens of other lawmakers supported by the super PACs are taking steps in Congress to advance crypto priorities, handing a series of long-awaited victories to an industry with an extensive history of fraud and volatility.\u201cIt\u2019s clear that digital assets are here to stay,\u201d Senator Ruben Gallego, an Arizona Democrat, said after a recent Senate Banking Committee hearing. Eric Lee\/The New York TimesWe are looking into how the Trump administration and Congress are dealing with the crypto industry, and are interested in all tips. Please reach out to David Yaffe-Bellany or Sharon LaFraniere over email, Signal or through this reader call out.<\/p>\n

We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and\u00a0log into\u00a0your Times account, or\u00a0subscribe\u00a0for all of The Times.Thank you for your patience while we verify access.Already a subscriber?\u00a0Log in.Want all of The Times?\u00a0Subscribe.<\/p>\n","protected":false},"author":1,"featured_media":25835,"comment_status":"close","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-25833","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts\/25833","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=25833"}],"version-history":[{"count":2,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts\/25833\/revisions"}],"predecessor-version":[{"id":25836,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts\/25833\/revisions\/25836"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/media\/25835"}],"wp:attachment":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25833"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25833"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25833"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}