How Crypto Money Is Poised to Influence the Election

By David Yaffe-Bellany, Erin Griffith and Theodore Schleifer. (New York Times). June 17, 2024.

Ryan Selkis, a cryptocurrency executive, was eating dinner at Mar-a-Lago last month when he got an unexpected invitation: Former President Donald J. Trump wanted him to come to the stage and say a few words.

Mr. Selkis, who runs the crypto data firm Messari, was one of a couple hundred attendees at an event celebrating Mr. Trump’s series of nonfungible tokens, the digital collectibles known as NFTs. When he reached the lectern, Mr. Selkis turned to face the former president.

“There’s 50 million crypto holders in the U.S.,” the executive declared. “That’s a lot of voters.”

That message has become a political talking point in the crypto world, as the industry tries to shake off a wave of scandals and establish itself as a powerful force in the 2024 election cycle. Three large crypto firms have banded together to finance a group of affiliated super PACs, investing about $150 million to elect pro-crypto candidates in congressional races.

Read the full piece here: The New York Times.