Browsing: Coinbase

The cryptocurrency industry invested heavily in the 2024 U.S. elections, backing candidates perceived as crypto-friendly. A significant portion of the $119 million spent by organizations like Coinbase and Ripple went to super PACs, and the strategy paid off, with many of their preferred candidates winning.

A deal with US regulators buoyed the crypto market briefly, only to be overshadowed by a massive hack of the Bybit exchange, leading to investor losses and renewed concerns about the industry’s security.