Crypto companies spent a record $21.55 million in 2022 on Washington lobbying, with major cryptocurrency exchange Coinbase leading the list. 

Last year's spending was more than double the crypto industry’s lobbying outlay of $8.29 million for 2021, according to an analysis of disclosures by OpenSecrets, which rounded up disclosures from more than 50 industry players.

The report revealed that Coinbase spent the most on lobbying, shelling out around $3.4 million in 2022. Blockchain Association, Crypto.com, Binance Holdings, and Ripple rank next in terms of their lobbying spending, each shelling out around $1.9 million, $1.2 million, $1.1 million, and $1 million, respectively. 

It is worth noting that campaign contributions, election finance, or political donations are not counted as lobbying spending, even as donors make them build relationships with policymakers.