Crypto Industry Spending Signals Urgent Need to Get Corporate Money Out of Politics

November 7, 2024

Crypto Industry Spending Signals Urgent Need to Get Corporate Money Out of Politics

WASHINGTON, D.C. - As the 2024 election results are finalized, it appears likely that the over $100 million in corporate donations from crypto companies significantly impacted the election outcome.

Lisa Gilbert, co-president of Public Citizen, issued the following statement in response:

"The endless deluge of corporate money into American elections must be stopped.

"Since Citizens United, corporations have flooded American elections with mind-boggling amounts of cash and have been rewarded with countless policy favors in return. The corporate takeover of our politics has poisoned our democracy, leaving working people and marginalized communities worse off every single time.

"The amount of money spent by the crypto industry this cycle is unprecedented, and sets a terrifying example of influence-peddling that must not be replicated. The sheer volume spent, and its effectiveness, teaches other corporate actors exactly the wrong lesson. We cannot sit idly by and wait for other industries to use the same playbook to buy future elections.

"The corporate capture of our government has made our needed remedies exceptionally obvious. We must fight the flood of corporate money with an amendment to overturn the overreaching Citizens United decision. We must also shine light on the endless stream of secret money by requiring disclosure and transparency."

Public Citizen reported extensively on the flood of crypto money in the 2024 elections, and our experts are available for commentary about how that money impacted election outcomes and where we go from here.

For more information or to speak with an expert, contact [email protected].