Pro-Crypto Orgs Dominate Megadonors To US Presidential Election

As the 2024 election approaches, organizations are pouring millions of dollars in to support their party of choice, or in some cases, bipartisan groups that bolster their industry.

Using data from the Federal Election Commission for the period January 1, 2023 to August 20, 2024, The Washington Post compiled the 50 top organization donors and where they spent their money. This chart, via Visual Capitalist's Julie Peasley, maps the top 10.

Megadonors Supporting Bipartisan Groups

Crypto companies Coinbase and Ripple gave the majority of their donations to Fairshake, a super political action committee (PAC) that supports campaigns of crypto-friendly congressional candidates. Andreessen Horowitz, a venture capital firm, also supported Fairshake.

Contributions from these three megadonors totaled $180.1 million.

Megadonors Supporting Partisan Groups

The majority of the donations went to partisan groups.

The largest contributors to Republican organizations include the Empower Parents PAC and Koch Industries. The notable donations made by these firms went to Never Back Down Inc. ($82.5 million from Empower Parents PAC), Americans for Prosperity Action, Congressional Leadership Fund, and Senate Leadership Fund.

Conversely, the remaining five of the top 10 megadonors supported Democratic groups. The most significant recipients were Democracy PAC, which received $60.0 million from Fund for Policy Reform, and Future Forward PAC, which received $55.9 million from Future Forward USA Action.

If you found this interesting, check out this visualization that looks at the U.S.’s most trusted sources for government information.