Nobel laureate and esteemed economist Paul Krugman has voiced his concern over the substantial political expenditure by the cryptocurrency industry in the ongoing election cycle.
What Happened: In an opinion piece for the New York Times, Krugman drew attention to the disproportionate influence of the industry on campaign finance, despite presenting no “significant use cases” as yet.
“The gigantic political spending and influence of an industry that, if anything, destroys value rather than creates it (especially if you consider its environmental effects) is startling,” Krugman stated.
Indeed, corporations linked to cryptocurrencies have poured an unprecedented $119 million to the 2024 presidential election, making up nearly half of the total corporate spending. Major companies like Coinbase and Ripple have channeled …
Full story available on Benzinga.com
Nobel laureate and esteemed economist Paul Krugman has voiced his concern over the substantial political expenditure by the cryptocurrency industry in the ongoing election cycle.
What Happened: In an opinion piece for the New York Times, Krugman drew attention to the disproportionate influence of the industry on campaign finance, despite presenting no “significant use cases” as yet.
“The gigantic political spending and influence of an industry that, if anything, destroys value rather than creates it (especially if you consider its environmental effects) is startling,” Krugman stated.
Indeed, corporations linked to cryptocurrencies have poured an unprecedented $119 million to the 2024 presidential election, making up nearly half of the total corporate spending. Major companies like Coinbase and Ripple have channeled …
Full story available on Benzinga.com
Nobel laureate and esteemed economist Paul Krugman has voiced his concern over the substantial political expenditure by the cryptocurrency industry in the ongoing election cycle.
What Happened: In an opinion piece for the New York Times, Krugman drew attention to the disproportionate influence of the industry on campaign finance, despite presenting no “significant use cases” as yet.
“The gigantic political spending and influence of an industry that, if anything, destroys value rather than creates it (especially if you consider its environmental effects) is startling,” Krugman stated.
Indeed, corporations linked to cryptocurrencies have poured an unprecedented $119 million to the 2024 presidential election, making up nearly half of the total corporate spending. Major companies like Coinbase and Ripple have channeled …Full story available on Benzinga.com Read More$BTC, Bitcoin, Cryptocurrency, Cryptocurrency Spending, Donald Trump, Edge Project, News, Paul Krugman, Political Spending, Politics, Markets, $BTC, News, Cryptocurrency, Politics, Markets, Benzinga Markets
