Banks Plan Millions in Midterm Spending as Crypto's 2024 Playbook Reshapes Wall Street
Updated
Updated · Bloomberg · May 28
Banks Plan Millions in Midterm Spending as Crypto's 2024 Playbook Reshapes Wall Street
5 articles · Updated · Bloomberg · May 28
Banks are preparing to spend millions in the midterm elections, adopting a political strategy modeled on the cryptocurrency industry's campaign machine.
Wall Street executives shifted after the 2024 elections, when crypto's political spending power repeatedly stunned the banking sector and highlighted a new route to influence.
The move signals banks are not just increasing donations but borrowing the structure of Fairshake's approach, the crypto-backed model that helped the industry dominate politically.
That imitation underscores how crypto's 2024 success is now reshaping broader corporate election spending ahead of the next congressional cycle.
With 'dark money' funding elections, how can voters truly know who is shaping American policy?
When multi-million dollar Super PACs become the norm, what is the ultimate cost to democracy?