US crypto firms spent more on lobbying in 2023 than before FTX collapse: Report

Companies connected to the crypto and blockchain industry in the United States reportedly spent roughly $3 million more on lobbying in the first three quarters of 2023 than over the same period in 2022.

According to a Dec. 5 Reuters report citing data from U.S. government transparency group Open Secrets, crypto firms spent roughly $19 million on lobbying from January to September 2023, roughly 19% more than they did over the same period in 2022. Coinbase reportedly led the spending on lobbying at more than $2 million, followed by, Blockchain Association, and Binance.

Before its collapse in November 2022, FTX had been one of the biggest spenders in the crypto space on donations…

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