The Weekend Brief offers analysis and insights on one big news item of the week, delivered only to Quartz members.
Though the resurgence of bitcoin has been an ongoing development in the crypto landscape, its success has breathed new life into another financial powerhouse — the crypto PAC.
The PACs, or political action committees, are going against the grain and advocating for more regulation so they can establish their legitimacy in the eyes of the public. With $85 million in funds, they’re making it very difficult for detractors to not take them seriously.
After investing in numerous Senate races, these PACs are aiming to put pressure on SEC head Gary Gensler who’s been a skeptic of the crypto industry.
The Weekend Brief will look at how crypto’s recent rise will continue to influence U.S. elections, and how more regulation could end up catalyzing the continued growth of crypto exchanges.
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