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U.S. Crypto Lobbyists Flooding the Zone, But Are There Too Many?

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Crypto’s moment has seemingly arrived in Washington, D.C., and the industry is trying to make the most of it. But as new organizations hatch and leadership shifts at the top advocacy operations, the field of pro-crypto groups trying to carry the torch is more crowded than ever.

No fewer than a dozen groups — including the Digital Chamber, Blockchain Association and Crypto Council for Innovation — are seeking to steer digital assets policies in the U.S., some of them substantially overlapping in their membership bases, funding sources and in the goals they’re seeking to accomplish.

Most of the leaders of those groups told CoinDesk they have a more-the-merrier view on pushing for friendly policy from President Donald Trump’s highly receptive administration and from Congress, which is increasingly loaded with industry allies.

«Many of the objectives are consistent across these groups,» said Miller Whitehouse-Levine, who recently left the DeFi Education Fund to launch the new Solana Policy Institute. «That’s a good thing, because I think there’s an absolute torrent of legislative and regulatory work that’s going on right now, and we need all the help we could get.»

Congress is chasing several crypto bills, including legislation to set boundaries for crypto markets, oversee stablecoin issuers, curtail digital assets in illicit financing, call for proof of reserves at crypto firms and set up government digital reserves. «We would have 100 more groups and 10,000 more people working on these issues in an ideal world,» Whitehouse-Levine added.

But other current and former policy advocates privately grant that the field is getting packed and that it can be difficult to justify so many entities pulling for the same cause with the same finite universe of congressional staff, White House offices and regulatory officials. In the recent past, groups have talked about reorganization and consolidation, according to people familiar with the discussions, though such efforts haven’t been executed.

Meanwhile, new organizations have hung their shingles in recent weeks, including Whitehouse-Levine’s SPI and the National Cryptocurrency Association, further increasing the ranks. That’s often how the numbers have grown in Washington: A company or lobbyist who feels some specific interest isn’t properly represented and can figure out how to pay for it. And big crypto firms have also set up their own D.C. operations, pushing for their more highly tailored interests.

New leaders

Cody Carbone is still just days into his leadership of the Digital Chamber — the oldest and largest crypto membership group. The Chamber and virtually every other major digital assets organization has lost or swapped leaders in the opening months of this year — many of them in the past few weeks.

He said he understands why so many are suddenly keen on showing up in Washington to take advantage of the turn in crypto sentiment, and he sees this crowded field of U.S. groups as a net positive when there is so much work to go around getting complex legislation done.

«At some point, there could be too many cooks in the kitchen,» he said. «But I think that’s a problem for a later day.»

Sheila Warren, who recently stepped away as the chief of CCI, said «there’s definitely room for differentiation» in crypto’s growing army of boosters, but she said a united front — in whatever form — is key.

«I think it’s really about coming together and recognizing that we all pretty much want the same things,» she said.

Not all of the groups share the same agendas. Some focus on narrow areas of the industry, and a few are more oriented toward research or serving crypto users rather than companies. Their ranks include Coin Center, Satoshi Action Fund, Bitcoin Policy Institute, Government Blockchain Association and Bitcoin Mining Council. Ripple started the new NCA with an astounding $50 million commitment, and it’s meant to be one of those more interested in the people who use and invest in crypto than the industry players.

Politics

On the raw, political edge of advocacy, the industry — especially U.S. exchange Coinbase — has entered the arena. Coinbase set up Stand With Crypto in an effort to jump-start a grass-roots-style crypto movement. That message-of-the-people strategy was bolstered by the extremely well-funded political action committee Fairshake and the dark-money influence arm, Cedar Innovation Foundation.

Fairshake spent more than a hundred million dollars to put friendly lawmakers into congressional seats last year, and the industry is already seeing big, bipartisan support in the early days of the new session. One point of evidence: The Democrats came out in force to join Republicans in killing an Internal Revenue Service rule that could have made existence-threatening demands on decentralized finance (DeFi) projects.

«I think it’s a huge benefit that we have so many organizations dedicated to trying to achieve regulatory clarity for digital assets,» said Amanda Tuminelli, who stepped up to run the DeFi Education Fund when Whitehouse-Levine left. «I think it’s been really needed, especially in the past few years, and when we work together, we actually accomplish great outcomes. For example, the IRS broker rule on DeFi.»

As it tackles those major questions on tax, government crypto reserves, the structure of the markets and regulations of stablecoins, the crypto lobbying space is leaping into a new chapter. That transition is made even more stark with the sudden and dramatic shuffle of leadership.

Kristin Smith, who was the chief of one of the leading groups, left the Blockchain Association to go work for former underling Whitehouse-Levine as president of his new Solana organization. So the association is left shopping for a new CEO. Meanwhile, the founder and longtime leader of the Digital Chamber, Perianne Boring, exited that job for unpaid work leading the board, and the founder of crypto think tank Coin Center similarly departed.

In Warren’s absence at CCI, Ji Kim — the group’s former general counsel and head of global policy — told CoinDesk he remains «laser-focused on ensuring that CCI continues to be the leading, substantive and global voice for our members on key policy issues.» When asked about the potential of organization mergers, he said he had «nothing to say» on that point.

The lobbyists and advocates have routinely come together on letters, events and papers pushing their common aims.

Carbone said there’s «definitely friendliness and conversations between us,» though he said there «needs to be more collaboration.»

However, the groups have practical needs for funding and members, and they’re driven to secure members who can sometimes only afford to join one or two of them.

«There’s obviously a competitiveness angle to this as well,» Carbone acknowledged. «It would be naive to say there’s not, so there’s a race sometimes.»

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Bitcoin Nears Golden Cross Weeks After ‘Trapping Bears’ as U.S. Debt Concerns Mount

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Bitcoin’s BTC price chart is echoing a bullish pattern that foreshadowed the late 2024 price surge from $70,000 to $100,000 amid mounting concerns over the sustainability of the U.S. debt.

The leading cryptocurrency by market value appears on track to confirm a «golden cross» in the coming days, according to charting platform TradingView. The pattern occurs when the 50-day simple moving average (SMA) of prices crosses above the 200-day SMA to suggest that the short-term trend is outperforming the broader trend, with the potential to evolve into a major bull run.

The moving average-based golden cross has a mixed record of predicting price trends. The impending one, however, is worth noting because it’s about to occur weeks after its ominous-sounding opposite, the death cross, trapped bears on the wrong side of the market.

A similar pattern unfolded from August through September 2024, setting the stage for a convincing move above $70,000 in early November. Prices eventually set a record high above $109K in January this year.

BTC's price chart: 2024 vs 2025. (TradingView/CoinDesk)

The chart on the left shows that BTC bottomed out at around $50,000 in early August last year as the 50-day SMA moved below the 200-day SMA to confirm the death cross.

In other words, the death cross was a bear trap, much like the one in early April this year. Prices turned higher in subsequent weeks, eventually beginning a new uptrend after the appearance of the golden cross in late October 2024.

The bullish sequence is being repeated since early April, and prices could begin the next leg higher following the confirmation of the golden cross in the coming days.

Past performance does not guarantee future results, and technical patterns do not always deliver as expected. That said, macro factors seem aligned with the bullish technical setup.

Moody’s amplifies U.S. debt concerns

On Friday, credit rating agency Moody’s downgraded the U.S. sovereign credit rating from the highest ”Aaa” to ”Aa1”, citing concerns over the increasing national debt, which has now reached $36 trillion.

The bond market has been pricing fiscal concerns for some time. Last week, CoinDesk detailed how persistent elevated Treasury yields reflected expectations for continued fiscal splurge and sovereign risk premium, both bullish for bitcoin.

Read: BTC Boom Likely as Bond Yields Surge

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XRP Price Surges After V-Shaped Recovery, Targets $3.40

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Global economic tensions and regulatory developments continue to influence XRP’s price action, with the digital asset showing remarkable resilience despite recent volatility.

After experiencing a significant dip to $2.307 on high volume, XRP has established an upward trajectory with a series of higher lows, suggesting continued momentum as it approaches resistance levels.

Technical indicators point to a potential bullish breakout, with multiple analysts highlighting critical support at $2.35-$2.40 that must hold for upward continuation.

Technical Analysis Highlights

  • Price experienced a 3.76% range ($2.307-$2.396) over 24 hours with a sharp sell-off at 16:00 dropping to $2.307 on high volume (77.9M).
  • Strong support emerged at $2.32 level with buyers stepping in during high-volume periods, particularly during the 13:00-14:00 recovery.
  • Asset established upward trajectory, forming higher lows from the bottom, with resistance around $2.39 tested during 07:00 session.
  • In the last hour, XRP climbed from $2.358 to $2.368, representing a 0.42% gain with notable volume spikes at 01:52 and 01:55.
  • Price surged past resistance at $2.36 to reach $2.366, later establishing new local highs at $2.369 during 02:03 session on substantial volume (539,987).
  • Currently maintaining strength above $2.368 support level with decreasing volatility suggesting potential continuation of upward trajectory.

Disclaimer: This article was generated with AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy. This article may include information from external sources, which are listed below when applicable.

External References

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SUI Surges After Finding Strong Support at $3.75 Level

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Global economic tensions and shifting trade policies continue to influence cryptocurrency markets, with SUI showing particular resilience.

The asset established a trading range of 4.46% between $3.70 and $3.86, finding strong volume support at the $3.755 level.

A notable bullish momentum emerged with price surging 1.9% on above-average volume, establishing resistance at $3.850.

The formation of higher lows throughout the latter part of the day suggests consolidation above the $3.775 support level.

Technical Analysis Highlights

  • SUI established a 24-hour trading range of 0.165 (4.46%) between the low of 3.700 and high of 3.862.
  • Strong volume support emerged at the 3.755 level during hours 17-18, with accumulation exceeding the 24-hour volume average by 45%.
  • Notable bullish momentum occurred in the 20:00 hour with price surging 7.2 cents (1.9%) on above-average volume.
  • Resistance established at 3.850 with higher lows forming throughout the latter part of the day.
  • Decreasing volatility in the final hours suggests consolidation above the 3.775 support level.
  • Significant buyer interest appeared between 01:27-01:30, forming a strong support zone at 3.756-3.760 with exceptionally high volume (over 300,000 units per minute).
  • Decisive bullish reversal began at 01:42, establishing a series of higher lows and higher highs.
  • Breakout above 3.780 occurred at 01:55, followed by consolidation near 3.785 with decreasing volume.

Disclaimer: This article was generated with AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy. This article may include information from external sources, which are listed below when applicable.

External References

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