Lobbying spending in the US cryptocurrency industry reaches a historic high.

According to data provided by the non-profit research organization OpenSecrets, the cryptocurrency industry spent $18.96 million on federal lobbying in the first three quarters of 2023, a significant increase from $16.1 million spent during the same period in 2022, and is expected to set a new annual record. Despite the notable collapse of the FTX exchange last year, industry companies including Coinbase (COIN.O), Foris DAX (operator of Crypto.com), Blockchain Association, and Binance Holdings are still actively lobbying. Their goal is to repair their reputation, push for friendly legislation, and establish direct connections with policymakers.