Summary
Record spending in the 2024 federal elections is projected to reach an unprecedented $15.9 billion, marking a significant increase from the $15.1 billion spent in 2020. Notably, outside spending from super PACs is favoring Republican candidates over Democrats, a shift from the previous election cycle when Democratic-aligned groups dominated funding efforts.
This change in spending dynamics is highlighted by the findings of OpenSecrets, which indicate that super PACs connected to the cryptocurrency industry, such as FairShake, have contributed substantially to Republican campaigns. In contrast, Democratic-aligned super PACs are experiencing a decline in funding relative to their Republican counterparts. For instance, while FairShake has spent $123 million supporting various candidates, the overall trend shows more financial backing for Republicans, reflecting broader shifts in political contributions. The increased financial stakes are further underscored by the tight race between Vice President Kamala Harris and former President Donald Trump, with both candidates vying for critical swing states that will determine the election outcome.
Spending in 2024 federal elections to hit record $16 billion, analysis finds
Oct. 9 / Gazette / Highlights the dramatic increase in federal election spending, emphasizing the shift towards Republican funding and the role of super PACs, providing insightful context on key candidates and swing states. “ The price tag to elect a president and members of Congress in 2024 is projected to reach a record $15.9 billion , according to a new analysis by OpenSecrets,...
Cryptocurrency industry fractured over where to spend money in 2024 elections
Sep. 24 / Gazette / Explores the internal divisions within the cryptocurrency industry regarding political contributions, revealing the complexities of aligning interests and the implications for candidates, particularly Democrats. “ The cryptocurrency industry has been rocked by internal disagreements over how best to spend its money in the 2024 elections to boost candidates who share...