A new mysterious nonprofit group backed by the crypto industry has set up a mailing address about 100 miles away from Washington, D.C., and is making moves to exert power in the nation’s capital.
The Cedar Innovation Foundation, a 501©(4) that was incorporated in Delaware in April, has launched advertisements against at least one powerful lawmaker who’s up for reelection, and quietly hired a group of strategists to fight on its behalf, according to records uncovered by CNBC.
It’s part of a broader effort by the crypto industry to influence Congress ahead of the 2024 elections and as a variety of crypto-related bills begin to weave their way through Washington.
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