Research Summary

The report provides an in-depth analysis of the crypto industry’s lobbying efforts in the United States from 2019 to 2023. It highlights the significant increase in lobbying expenditure over the years, with a record high in 2022 and a strong start in 2023. Key players such as Coinbase, The Blockchain Association, and Ripple are noted for their substantial lobbying investments. The report also introduces new entrants to the lobbying scene and emphasizes the concentration of lobbying efforts among the top 30 crypto companies.

Key Takeaways

Surge in Crypto Lobbying Expenditure

  • Steady Growth: The crypto industry’s lobbying spend has seen a consistent increase, with a notable jump in 2021 and a peak in 2022.
  • Record Highs: 2022 marked the highest expenditure on crypto lobbying at $22.23 million, with 2023 on track to potentially exceed this figure.

Leading Crypto Lobbyists

  • Coinbase’s Dominance: Coinbase leads the pack with the highest lobbying spend of $7.51 million from 2019 to 2023.
  • Top Organizations: The Blockchain Association and Ripple are prominent organizations lobbying for crypto-related issues in the US.

New Entrants in Lobbying

  • 2021 Additions: Binance, Dapper Labs, and the Crypto Council for Innovation are among the notable new participants in US crypto lobbying in 2021.
  • 2023 Rookies: Andreessen Horowitz, OKX, Polygon, Solana, and Discover Crypto have joined the lobbying efforts for the first time in 2023.

Concentration of Lobbying Efforts

  • Top 30’s Share: The top 30 crypto companies account for 82.1% of the total crypto lobbying expenditure over the last five years.

Data and Methodology

  • Reliable Sources: The data for the report was sourced from OpenSecrets, ensuring accurate tracking of lobbying activities.
  • Exclusion Criteria: The dataset focused solely on expenditures related to crypto issues, excluding cases where crypto was lobbied alongside non-crypto issues.

Actionable Insights

  • Monitor Leading Players: Keep an eye on the activities and lobbying efforts of leading companies like Coinbase, The Blockchain Association, and Ripple to understand their influence on policy.
  • Assess New Entrants: Investigate the potential impact of new entrants in the lobbying arena and how they might shape the future of crypto regulation.
  • Analyze Expenditure Trends: Consider the implications of the growing lobbying expenditure on the crypto industry’s regulatory landscape and market dynamics.

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