Coinbase spent $3.4M on lobbying in 2022, while FTX spent $720k

Coinbase spent $3.4 cardinal connected lobbying activities successful 2022, ranking second, portion Binance US and FTX US ranked ninth and 13th, respectively, according to a caller study by Money Mongers.

The exchange’s 2022 lobbying walk marks a 122% summation from 2021’s $1.52 million, according to the Money Mongers report.

Binance U.S. grew its fund for lobbying by 500% and spared $960,000 successful 2022 compared to $160,000 successful 2021. This placed Binance U.S. successful ninth spot successful the ranking. FTX.U.S., connected the different hand, ranked 15th  and spent $720,000 for lobbying successful 2022, marking a 1340% summation from $160,000 successful 2021.

Lobbying activities since 2017

Blockchain Association and Robinhood followed Coinbase arsenic the 2nd and 3rd largest spenders connected lobbying activities by sparing $1.9 cardinal and $1.8 cardinal successful 2022, respectively.

Coinbase, Blockchain Association, and Robinhood besides fertile among the apical 5 biggest lobbying spenders since 2017, sparing implicit $5.59 million, $3.9 million, and $3.89 million, respectively.

Top 15 largest lobbying spenders since 2017 (Source: Money Mongers)

On the different hand, CME Group holds the enactment successful the ranks by having spent implicit $8.26 cardinal connected lobbying activities successful the past six years. Binance U.S. and FTX U.S. spared a fund for lobbying activities successful 2021 and 2022, placing them 10th and 15th successful the ranking, respectively.

The station Coinbase spent $3.4M connected lobbying successful 2022, portion FTX spent $720k appeared archetypal connected CryptoSlate.