Super PACs Backed by Cryptocurrency Are Dominating the 2024 Elections

The recent commencement speech at Ohio State University took a bizarre turn when speaker Chris Pan revealed that he had taken the psychedelic drug ayahuasca to write his first drafts. Pan, who claimed to have received help from “Ayahuasca Intelligence,” attempted to encourage graduates and attendees to buy cryptocurrency during his speech. This unconventional approach did not sit well with the audience, as audible booing could be heard during the livestream of the ceremony.

Despite the backlash, it seems that the cryptocurrency industry is not backing down. Super PACs backed by the sector have raised over $102 million for the 2024 elections, making them one of the top fundraising groups. The money comes from direct corporate expenditures, as well as contributions from billionaire crypto executives and venture capitalists.

In the midst of this political maneuvering, one Republican candidate, John Deaton, is campaigning to challenge Senator Elizabeth Warren, a vocal critic of the crypto sector. Deaton, a crypto advocate and lawyer, has expressed his desire to confront Warren on the issue of regulating cryptocurrency.

With the support of the well-funded crypto super PACs, Deaton and other crypto-backed candidates are gearing up for a contentious election season. As the battle between traditional finance and the cryptocurrency industry heats up, it remains to be seen how this will impact the political landscape in the coming years.