Crypto Lobbying Spree Leaves Bad Taste, $TRUMP Dinner Sparks Controversy

The crypto sector's spending on D.C. lobbyists has left a bad taste in the mouths of many, especially after the recent failure of the CLARITY Act in the Senate. According to reports, the industry spent $13 million on lobbyists in the first half of 2026, with $8 million of that going towards the failed CLARITY Act.

CLARITY aimed to establish a clearer regulatory framework for digital assets and define the roles of the SEC and CFTC. However, it was met with opposition from Democrats, who claimed the bill would benefit President Trump's crypto profiteering.

Despite the failure of CLARITY, the crypto sector continues to spend big on lobbying efforts. Coinbase led the charge, spending $2.2 million, followed by Andreessen Horowitz at $1.5 million. However, the sector's efforts may be paying off, as a recent bipartisan slate of endorsements for midterm candidates was released by Stand with Crypto.

Meanwhile, the $TRUMP memecoin is hosting its third 'dinner' for the token's largest holders, despite a 97% price drop from its peak. The event, which will take place at the Trump National Golf Club, has been criticized by some as an attempt to profit off the president's name and influence.

As the crypto sector continues to navigate the complex world of lobbying and regulation, it remains to be seen whether the industry's efforts will ultimately pay off.