In a recent newsletter, technology critic Molly White argues that the crypto industry's massive lobbying expenditure is unlikely to produce the favorable legislation it seeks. The industry has reportedly spent $200 million to advance a bill, but White contends the effort is fundamentally flawed.
White describes the bill as too corrupt for Democrats to pass, suggesting it contains provisions or compromises that alienate the party. At the same time, she characterizes the president as too corrupt to sign anything that would meaningfully limit his own financial dealings, implying the executive branch is not a reliable ally for reform.
If White's assessment is accurate, the industry's investment may yield little more than a stalemate. The analysis highlights how money in politics can collide with competing self-interests, leaving even well-funded lobbying efforts short of their goals.