Crypto industry has been raising its lobbying efforts amid the crypto winter that began last year. In 2022, the market participants spent $25.57 million on lobbying in the United States. 

This number appears in a study, published by the Money Mongers on Feb. 23. The count is based on data from OpenSecrets, a nonpartisan nonprofit, tracking the lobbying expenses (which should be publicly accessible by law) in the U.S.

According to this data, the general rise of the industry’s lobbying budgets made up 922% in five years between 2017 and 2022. In 2017, when the price of Bitcoin rocketed for the first time, the young industry spent only $2.5 million on lobbying efforts, while in last year this number stood at $25.57 million. During the last year alone, the stakeholders raised their expenses by 121.41% from $11.54 million in 2021.

(By DAVID ATTLEE)

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