Coinbase spent $3.4M on lobbying in 2022, while FTX spent $720k Coinbase spent $3.4M on lobbying in 2022, while FTX spent $720k
Coinbase spent $3.4 million on lobbying activities in 2022, while Binance US and FTX US spent $960,000 and $720,000, respectively.
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Updated: Feb. 28, 2023 at 7:14 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Coinbase spent $3.4 million on lobbying activities in 2022, ranking second, while Binance US and FTX US ranked ninth and 13th, respectively, according to a recent report by Money Mongers.
The exchange’s 2022 lobbying spend marks a 122% increase from 2021’s $1.52 million, according to the Money Mongers report.
Binance U.S. grew its budget for lobbying by 500% and spared $960,000 in 2022 compared to $160,000 in 2021. This placed Binance U.S. in ninth place in the ranking. FTX.U.S., on the other hand, ranked 15th and spent $720,000 for lobbying in 2022, marking a 1340% increase from $160,000 in 2021.
Lobbying activities since 2017
Blockchain Association and Robinhood followed Coinbase as the second and third largest spenders on lobbying activities by sparing $1.9 million and $1.8 million in 2022, respectively.
Coinbase, Blockchain Association, and Robinhood also rank among the top five biggest lobbying spenders since 2017, sparing over $5.59 million, $3.9 million, and $3.89 million, respectively.
On the other hand, CME Group holds the leadership in the ranks by having spent over $8.26 million on lobbying activities in the last six years. Binance U.S. and FTX U.S. spared a budget for lobbying activities in 2021 and 2022, placing them 10th and 15th in the ranking, respectively.
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Author 
Zeynep Geylan
Zeynep is an academic who turned to crypto in 2018. Originating in social sciences, she is especially interested in the social impact of blockchain and cryptocurrencies and strongly believes in their transmuting power.
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Coinbase is a digital currency exchange and wallet service that allows individuals to buy, sell, and store digital currencies, such as Bitcoin, Ethereum, and Litecoin.
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Binance.US will provide secure and reliable cryptocurrency trading to users in the United States.
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FTX US Derivatives is a digital currency futures and options exchange and clearinghouse regulated by the US Commodity Futures Trading Commission (CFTC).
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Robinhood is an investing platform where you can invest in stocks, ETFs, options, and cryptocurrencies side by side, all commission-free and easily accessible in one app..
