PANews reported on May 19 that data disclosed by Bloomberg shows that donations from the cryptocurrency industry for the 2024 U.S. election have reached $94 million, setting a new historical record, surpassing the $83 million donated in the previous 2020 election cycle. It is reported that most of the donations come from Political Action Committees (PACs), with Coinbase and Ripple Labs also contributing significantly. Coinbase donated $20.5 million, Ripple Labs donated $20 million, and Coinbase CEO Brian Armstrong personally donated $1 million.