Crypto PACs are pouring money into 2024 elections

Crypto is increasingly throwing its weight behind industry-friendly candidates.

The big picture: Crypto super political action committees, commonly known as PACs, have raised more than $100 million for 2024 congressional elections, according to a recent report by Public Citizen.

Coinbase and Ripple have accounted for roughly half that.

And efforts to this point would appear to be making a difference.

The latest: On Friday, Stand With Crypto, the nonprofit advocacy group started by Coinbase, announced its intent to raise more funds for its own PAC targeting House and Senate elections.

Stand With Crypto's bid to build an election war chest comes less than a year after the group's debut last summer.