The crypto industry lost.

The media keeps pushing this narrative that the crypto industry “won” or “bought out” democracy, despite every shred of evidence showing otherwise. For example, Richard Hanania wrote, “The crypto industry is taking regulatory capture to new heights.” Yeah, like no Bitcoin reserve. No CLARITY Act. But bailouts and other initiatives for AI and other sectors and companies (e.g. semiconductors, metals, quantum computing, Intel, Dell Computers, etc.) which donated nothing to Trump’s campaign. It’s an interesting definition of “winning” or “regulatory capture,” if it’s defined to mean getting nothing you wanted. Sounds more like losing. Crypto spent more than any other industry to back Trump, and got nothing to show for it. No strategic Bitcoin reserve. No CLARITY Act. The CLARITY Act was the crypto industry’s top legislative priority for over a year, but it stalled again. Polymarket now puts the odds of its 2026 passage at only 27-31%, down from a peak of 82% back in February 2026. Recall…