Crypto lobby gains ground under Trump
The newcomers originate from all corners of the industry.
There's betting website Polymarket, a gaming company that created an NFT version of the White House Easter egg hunt, and a Seychelles-based exchange that cannot operate in the U.S. market due to a federal money laundering settlement.
Together, they spent nearly $2.8 million between April 1 and June 30 on lobbying landmark legislation promoting digital assets to the Treasury Department and the Securities and Exchange Commission, and a host of other issues relevant to blockchain infrastructure — an increasingly sprawling ecosystem that some hope could one day be as ubiquitous as the internet.
The push has paid off for crypto so far. The GENIUS Act, a bill with bipartisan support signed by President Trump last week, has been regarded as the government's 'seal of approval' on the industry.
The law sets up a regulatory framework for stablecoins, a type of cryptocurrency that is theoretically pegged to the U.S. dollar or another reference asset.
The House also advanced several other landmark bills during its monumental 'crypto week,' which featured high-profile lobbying stunts such as vending machines around the Capitol and the National Mall with customized chocolate bars urging 'yes' votes, bankrolled by the crypto exchange Coinbase.
Lobbying expenses that week were not covered in the second quarter disclosures.
At least 73 companies or associations focused on crypto disclosed federal lobbying activities, to the tune of about $11.4 million.
This total doesn't include spending from investment firms such as Andreessen Horowitz ($790,000) or BlackRock ($810,000) that have substantial crypto interests but also lobbied on a suite of other financial regulation issues.
The Hill's Miriam Waldvogel has more here.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hill
27 minutes ago
- The Hill
Van Hollen: ‘A big lie' that UN aid for Gaza has been ‘systematically' stolen by Hamas
Sen. Chris Van Hollen (D-Md.) said Sunday there is no truth to claims that United Nations aid for Palestinians in Gaza has been 'systematically' stolen by Hamas. 'This is a big lie, the claim that when the U.N. organizations were delivering food to Palestinians, civilians, that it was being systematically diverted to Hamas,' Van Hollen told CBS News's Margaret Brennan on 'Face the Nation.' 'I want to say loudly and clearly, this is a big lie,' the Maryland senator added. On Sunday, Trump said Hamas is stealing food that was meant for people in Gaza, saying to reporters on multiple occasions that goods are being stolen as he was pressed on the hunger crisis in the region. Trump, alongside President of the European Commission Ursula von der Leyen in Turnberry, Scotland, was questioned about his response to the images of starving children in Gaza. 'When I see the children and when I see, especially over the last couple of weeks people are stealing the food, they're stealing the money, they're stealing the money for the food. They're stealing weapons, they're stealing everything,' the president said. 'It's a mess, that whole place is a mess. The Gaza Strip, you know it was given many years ago so they could have peace. That didn't work out too well,' Trump continued. House Speaker Mike Johnson echoed Trump on Sunday's 'Meet the Press' on NBC News. 'This is important to note: Israel, since this war began, has supplied over 94,000 truckloads full of food. It's enough food to feed 2 million people for two years trying to get that into Gaza. But Hamas has stolen the food, a huge amount,' Johnson said. He also criticized 'the system,' calling it 'broken,' adding that beginning tomorrow, the Israeli military will open 'new channels of distribution to get it [food] to those people who are desperately in need.' Former President Obama said on Sunday that 'aid must be permitted to reach people in Gaza.' 'There is no justification for keeping food and water away from civilian families,' the former president added in a post on the social platform X on Sunday.
Boston Globe
27 minutes ago
- Boston Globe
'Relieved': Educators await Trump administration to release $6 billion in frozen funding
Advertisement The Trump administration announced the funding freeze on June 30, a day before the money was supposed to be sent to school districts in both New England and across the nation. It was another move toward the White House's goal to dismantle the Education Department, as President Trump argues that classrooms are teaching left-wing ideology. In Massachusetts, the freeze translated into $108 million withheld, leaving many districts scrambling to ensure they could still provide services during the summer months and the upcoming fall semester, with some cancelling summer programs entirely. In addition to training educators Advertisement Ray Hart, executive director of the Council of the Great City Schools, a nationwide association of urban districts that includes Boston, said in a statement they're 'relieved' about the administration releasing the funds 'for the benefit of schoolchildren throughout our nation.' In Rhode Island, education commissioner Angélica Infante-Green said, 'On behalf of Rhode Island's students, families, and teachers,' it is 'relieved to hear that the congressionally approved education funding is set to be released.' The Education Department 'will begin dispersing funds to states next week,' said Madi Biedermann, a spokesperson for the department, in a statement Friday. Biedermann said the Office of Management and Budget completed its review of the grants and directed the Education Department to release the funding. The move comes after the District of Columbia and 24 states, including Massachusetts, Connecticut, Rhode Island, Vermont, and Maine, 'It is impossible for states to effectively budget for an upcoming school year ... when the president takes the football away from us, like Lucy in a Charlie Brown cartoon,' said Peter Neronha, Rhode Island Attorney General, at a press conference announcing the lawsuit earlier this month. Related : A coalition of school districts and teachers' unions, including the Rhode Island Federation of Teachers and Health Professionals, Susan Collins, a Republican senator from Maine, and Ed Markey, a Democratic senator from Massachusetts, were among the politicians who criticized the freeze and demanded the administration release the money. Advertisement 'Every day that goes by without this education funding hurts our students, educators, and communities,' said Pedro Martinez, Commissioner of the Massachusetts Department for Elementary and Secondary Education, in a statement Thursday. 'We are still recovering from pandemic learning loss, and these federal funds are directly related to improving student academic achievement.' In early July, Governor Maura Healey said in a statement that districts would be forced to lay off staff, delay or cancel programs, and disrupt learning. 'Our schools were promised this funding, and the Trump Administration needs to deliver it,' Healey said. In a survey by the School Superintendents Association, about three-quarters said they would cut academic programs, and half said they would lay off teachers if funding was not restored. In a statement, the executive director of the association, David Schuler, said he was 'pleased' with the news of the funding being released. Some programs saw an immediate, negative impact following the freeze, including the The program, which has operated in Massachusetts since 1966, aims to address the toll on children's education caused by the frequent moves, as students transfer between different school districts or miss school altogether to work alongside their parents. In Springfield, 9-year-old Ery Perez Gutierrez last summer focused on sharpening his academic skills at Advertisement Ery is among hundreds of children in Massachusetts spending the summer at home because of the funding freeze. President Trump had proposed cutting the Migrant Education Program altogether in the next Last year, the grant served 438 students for summer programs statewide, said Emily Hoffman, director of the program in Massachusetts. The loss of the program at Boland Elementary is 'heartbreaking' and a 'huge step backwards,' as students are going without much-needed services, said Lisa Bakowski, the school's principal, who oversaw the program for the past three summers. Bakowski said the children enrolled in the program are among the most vulnerable in the community. Their parents work in the fields all day and often don't speak English. 'It sickens me that it's become a political issue when it really should never have been,' Bakowski said. 'It's about the betterment of humanity and being able to work to assist and provide for pockets of our community that need it.' Related : Other programs targeted in the freeze weren't immediately impacted. The largest grant frozen, known as Advertisement In previous years, Boston Public Schools used the funding to provide additional support for the district's recruitment efforts and educator preparation, including through an intensive 12-month program that prepares aspiring teachers to enter the classroom at no cost to them. Following the freeze announcement, BPS 'identified temporary one-time funding to maintain these efforts, which will continue in Fiscal Year 2026 despite the funding freeze with the hopes that the funding will eventually be available,' a spokesperson said in a statement Thursday. Massachusetts districts received $27 million in fiscal year 2025 for teacher training, with BPS receiving about Marcela Rodrigues can be reached at
Business Insider
39 minutes ago
- Business Insider
PGC announces new partnership with CubeSmart
Precision Global Corporation. PGC, announces its new partnership with CubeSmart (CUBE) to manage four of its Texas-based storage assets. As of Friday, July 25, 2025, CubeSmart officially assumes third-party management of all four properties. This marks a significant milestone in PGC's expansion within the self-storage sector and reflects the company's focus on enhancing value. Under CubeSmart's management, tenants at all four Texas locations can expect elevated service, improved visibility, and enhanced operational performance through CubeSmart's proven model. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
