Crypto firms have spent $189M so far on 2026 US election, report says • Hacker News Board

Re: Crypto firms have spent $189M so far on 2026 US election, report says

#51

Post by Analemma_ » Tue, Jun 30, 2026, 6:51 PM UTC

snypher wrote: post #49

Analemma_ wrote: post #37

Earlier quoted context omitted.

Honestly, that comparison is insulting to Goldman Sachs. Goldman at least sometimes provides funding for things beneficial to humanity: infrastructure projects, small business loans, and the like. A16Z has transitioned fully to various incarnations of casino apps and getting rich by getting people addicted to gambling, they are a purely negative force in the world with no upside whatsoever.

Show me something Goldman has done that wasn't for the return %.

That's not what I argued and you are misrepresenting my point. My argument is that, at least sometimes, Goldman invests in positive-sum trades which make the world better off, even if they extract too much for themselves in fees and leverage. By contrast, the various investments A16Z makes are negative-sum and only manage to make the world worse.

Re: Crypto firms have spent $189M so far on 2026 US election, report says

#52

Post by gverrilla » Tue, Jun 30, 2026, 6:57 PM UTC

mythrwy wrote: post #31

stanleykm wrote: post #8

Earlier quoted context omitted.

I wonder why all the libertarian freedom loving crypto guys keep backing fascists

[flagged]

How are you this confident while being this ignorant?

Re: Crypto firms have spent $189M so far on 2026 US election, report says

#53

Post by TheAmazingRace » Tue, Jun 30, 2026, 7:03 PM UTC

knorker wrote: post #28

paulpauper wrote: post #7

As far as the US is concerned, given how badly bitcoin has done since Trump was inaugurated, the worst performing asset class by far, I would say the ROI has been pretty bad. Industries and sectors that donated nothing still got bailouts and other initiatives, such as AI, quantum, metals, and semiconductors. Noting for crypto donors. No bailouts, or even mentions on twitter. Politicians can take money but they don't…

The bitcoin people bought a pardon for their hero, one of the biggest facilitators of drug smuggling in the world, and someone who personally paid money to have people killed. Including explicitly saying to indiscriminately kill whatever unrelated bystander happens to be there. That was a stated goal for them, and they got what they paid for. So good ROI on that. They've gotten PAAAAH-LENTY for their money. Did they…

Ross Ulbricht being let go as part of some quid pro quo with crypto-libertarians was certainly a huge miscarriage of justice. He should not be walking free, but alas.

Re: Crypto firms have spent $189M so far on 2026 US election, report says

#54

Post by buellerbueller » Tue, Jun 30, 2026, 7:04 PM UTC

saalweachter wrote: post #38

buellerbueller wrote: post #9

Earlier quoted context omitted.

Enabled yet again, today, by the SCOTUS.

What I find mildly interesting is how the older money (eg, the Koch brothers) spent decades creating the current environment (between deregulation on business, cutting taxes on the wealthy, and political ventures like the Federalist Society and Heritage, Inc), but it's come together to create a newer group of rich jerks who are really exploiting it to the hilt.

I recall that this outcome (today's rich jerks exploiting it to the hilt) was what was predicted all along.

Re: Crypto firms have spent $189M so far on 2026 US election, report says

#55

Post by xpct » Tue, Jun 30, 2026, 7:05 PM UTC

khurs wrote: post #5

Andreessen Horowitz - $51.65m... are they the Goldman Sachs (Vampire Squid) of the Tech world? The first thing you need to know about Goldman Sachs is that it’s everywhere. The world’s most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money. https://www.rollingstone.com/politics/politics-news/the-grea...

Has a16z already boasted about this investment, or is that podcast episode coming out later this year?

Re: Crypto firms have spent $189M so far on 2026 US election, report says

#56

Post by thehoff » Tue, Jun 30, 2026, 7:05 PM UTC

pooploop64 wrote: post #44

thehoff wrote: post #11

Earlier quoted context omitted.

It almost doesn't matter? If it was less than other industries doesn't make it okay. I like any/all callouts of industries and their political "donations". Its all so ridiculous.

I guess the threat of this is what's unclear. The cryptobros are going to take over the world and then do what exactly?

Yeah I guess poor wording on my part. It does matter. My point was even if its a lot less than other industries that doesn't negate what's happening here.

Re: Crypto firms have spent $189M so far on 2026 US election, report says

#57

Post by victorbjorklund » Tue, Jun 30, 2026, 7:06 PM UTC

stanleykm wrote: post #8

khurs wrote: post #3

A UK party rising up the charts is caught up in a scandal - crypto guy gave the party leader (personally) £5m which he failed to declare and he started the party a few days later indicating he was paid to start the party. It came out when Crypto guy gave an interview and mentioned it not realising the consequences. The party leader first claimed it was for security. Then it was determined he had bought property with…

I wonder why all the libertarian freedom loving crypto guys keep backing fascists

Because they are not really true liberterians. They are more ”I wanna be free from rules but I want more rules for others”

Re: Crypto firms have spent $189M so far on 2026 US election, report says

#58

Post by mindslight » Tue, Jun 30, 2026, 7:06 PM UTC

dgellow wrote: post #42

mythrwy wrote: post #31

Earlier quoted context omitted.

[flagged]

Fascist is descriptive and makes perfect sense here

Seriously.

Moldbug (Yarvin), who is intellectually upstream of the tech-authoritarian movement, explicitly claimed the term reactionary and spent so many words strawmanning concerns about fascism he de facto claimed that term as well. And either term is a hell of a lot more accurate than "conservative", which [unfortunately] continues to be in use as an emotional fig leaf over what is actually a radical agenda of destruction.

Re: Crypto firms have spent $189M so far on 2026 US election, report says

#59

Post by petilon » Tue, Jun 30, 2026, 7:15 PM UTC

gwbas1c wrote: post #50

BiraIgnacio wrote: post #6

Is this a little or a lot? any idea how that compares to other industries and donors?

Paragraph #2 directly answers your question: > More than one-third of all corporate money contributed to this year's November elections, and primary elections leading up to them, has come from the crypto industry, making it the top corporate political spender, the group said.

Only one-third? They are slowing down. Crypto companies accounted for almost half of corporate donations in the 2024 election cycle [1].

[1] https://www.cnbc.com/2024/08/23/crypto-companies-are-pouring...

Re: Crypto firms have spent $189M so far on 2026 US election, report says

#60

Post by mythrwy » Tue, Jun 30, 2026, 7:17 PM UTC

kg wrote: post #41

mythrwy wrote: post #31

Earlier quoted context omitted.

[flagged]

It may make you uncomfortable to learn this but fascists - actual ones - are currently active in politics! My hair isn't dyed, for what it's worth. We could argue over the definition of fascism and which politicians fit it which might be more productive than accusing posters of being depressed.

That is one option.

Another is we discuss actual policy positions rather than using presumed pejoratives to brand everyone who doesn't agree with us as "literally Hitler!".