Crypto czar's announcement underwhelmed

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crypto legislation

PBS

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Business

Business & Economics

How an emboldened crypto industry is trying to cement political influence

Summary

Nutrition label

73% Informative

The crypto industry is emboldened and eager to cement its influence in politics and mainstream financial systems.

After spending heavily to help elect Trump and other crypto-friendly lawmakers, the industry has scored some early wins since Trump took office.

Congress has held several hearings in recent weeks where crypto supporters have aired grievances over how they were treated during the Biden administration.

A few years ago , the Super Bowl was packed with celebrities doing commercials for crypto companies.

That popularity and influence waned after Bankman-Fried’s company collapsed amid massive criminal fraud, a market meltdown and other scandals.

But debates over the crypto legislation and other policy proposals risk exposing fault lines among the industry's many different tribes.

VR Score

Informative language

Neutral language

Article tone

formal

Language

English

Language complexity

Offensive language