Well, election night is over and everything sucks.
The crypto industry spent aninsane amount of moneyon political races this year.
Their financial contributions dwarfed those of the Kochs.
© Clint Spaulding/Penske Media via Getty Images
They outspent the tobacco industry.
The New York Timesreports thatcrypto-funded political candidates had a swell of victories on Tuesday night.
In the Senate, 16 pro-crypto candidates and 12 anti-crypto candidates were elected.
There, longtime incumbent progressive Sherrod Brown was defeated by a crypto-funded challenger, Republican candidate Bernie Moreno.
His position as the chair of the Senate Banking Committee spooked prominent digital asset holders.
Crypto bros said he had to go and, now, away he will go.
In August, the advocacy group Public Citizenwrote, of the group:
Fairshakes corporate backing is unprecedented.
The total amount spent by Fairshake and its affiliated organizations?
A whopping $135 million.
Money can buy pretty much anything, including your favorite Senator.
Cryptos biggest stans are now riding high.
The pathetic, crypto-loving Winklevoss twinswho execute the crypto exchange Geminiare happy as clams.
On Wednesday morning, Tyler Winklevosstweeted: Crypto just became a bipartisan issue overnight.
Well done crypto army.
Cameron Winklevoss, meanwhile,tweeted: gm @GaryGensler youre fired!
For the past few years, the perception has been that the crypto industry was experiencing a make-or-break moment.
The existential stakes of this election cycle clearly spurred crypto companies to spend so exorbitantly on political races.
Nauseatingly, it has paid off.
News from the future, delivered to your present.
Justice Department Says It Will Pull Back on Prosecuting Crypto Fraud
What could go wrong?
