Crypto super PACs have accumulated $102 million to support pro-industry candidates ahead of the US elections, according to a report from Public Citizen. Of this amount, around $54 million comes directly from corporate contributions, notably from major players like Coinbase and Ripple Labs.

Additionally, individual contributions from crypto executives and venture capitalists have bolstered the funds, including significant sums from Andreessen Horowitz founders, the Winklevoss twins of Gemini exchange, and Coinbase CEO Brian Armstrong.

However, these financial efforts face scrutiny, as four of the eight corporate donors are embroiled in legal battles with the SEC over alleged securities violations. Public Citizen's report underscores the influence of crypto super PACs on primary elections, noting their success in backing candidates, with only one loss out of six races they intervened in.

Plans are underway to allocate resources to Senate races in key states like Ohio and Montana for the general election. Armstrong has advocated for Robinhood to support pro-crypto candidates, highlighting Coinbase's involvement in Fairshake Political Action Committee and StandWithCrypto.org.

Meanwhile, Robinhood faces SEC scrutiny, which its CEO Vlad Tenev criticized for impeding innovation. The SEC's focus on Robinhood is surprising given its compliance history, although challenges persist in registering its crypto services due to classification disagreements. Robinhood's Chief Legal Officer disputes the SEC's classification of cryptocurrencies as securities.