Top executives at a16z and Kraken backed Cynthia Lummis’s Senate campaign

In the second quarter of 2022, executives of cryptocurrency companies and venture funds were active donors to the campaign of the U.S. Senator from Wyoming, Cynthia Lummis. свидетельствуют data from the Federal Election Commission.

According to the report, during the period the senator raised more than $116 000. By the end of June 2022, in her campaign treasury насчитывалось more than $243 000. The funds will go toward financing the 2026 campaign.

Among the donors to Lummis are representatives of Multicoin Capital, Andreessen Horowitz founder Ben Horowitz and venture fund partner Chris Dixon, cofounder of the startup Aptos, Kraken chief legal officer Marco Santori, and a number of other industry stakeholders.

Lummis is the co-author of the legislation to regulate the cryptocurrency industry, which was introduced in June 2022. The document introduces legal terminology for digital assets and virtual currencies, and defines the powers of the supervisory agencies.

In the current version of the bill there were no provisions on NFTs. Lummis explained this was due to the difficulty of classifying non-fungible tokens.

Earlier, the senator named ‘a good idea’ for the ФРС to buy Bitcoin. In her words, the Federal Reserve could direct part of its currency reserves toward buying digital gold.

The senator herself first invested in Bitcoin in 2013. In August 2021, she increased her holdings in the asset.

In 2021, cryptocurrency companies spent about $5m lobbying in the U.S. Senate, according to The Economist.

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