The U.S. cryptocurrency industry has spent millions of dollars on midterm politics.
Crypto traders believe that 2023 will be a pivotal year for regulation.
According to Open Secrets' website, Sam Bankman-Fried has contributed over $40 million to elections this year.
Sam Bankman Fried has become the sixth-largest individual donor in the United States.
Originally, the majority of US campaign donations went to supporting Democrats.
Congress is planning to advance legislation on digital commodities and stable coins.
Crypto companies are eager to assist politicians who support the industry.