Crypto Titans Flex Political Muscle During US Government Shutdown Chaos

Washington scrambles as digital asset heavyweights rewrite lobbying playbook.

While bureaucrats dust off 'Closed' signs, blockchain execs are cutting checks—and deals.

Behind the scenes: How crypto PACs became the only growth sector in DC this quarter.

Regulatory limbo? More like regulatory leverage for an industry that thrives in gray areas.

One lobbyist's whiskey-fueled confession: 'We're getting more done during the shutdown than in the past fiscal year.'

Meanwhile, traditional finance watches from the sidelines—still waiting for their faxed approval forms to go through.

Leading companies in the cryptocurrency sector are accelerating their political engagements in the United States as they await the delayed approval of cryptocurrency ETFs due to the government shutdown. Key figures from Ripple$2, Coinbase, Chainlink$17, Galaxy, Kraken, Uniswap, and Circle are scheduled to meet in Washington with Democrat senators who have shown a positive stance towards cryptocurrencies. New York Senator Kirsten Gillibrand will chair this meeting.

Cryptocurrency Sector Strengthens Political Ties

According to a post by Fox Business journalist Eleanor Terrett on October 20, the meeting will include participants such as Coinbase CEO Brian Armstrong, chainlink founder Sergey Nazarov, and Galaxy’s Mike Novogratz, among others. Key policymakers like Solana$185 Policy Institute President Kristin Smith, Ripple’s legal director Stuart Alderoty, and Circle CSO Dante Disparte will also be in attendance, emphasizing the importance of this gathering.

Eleanor Terrett’s Tweet

The meeting’s agenda will focus on setting regulatory frameworks for decentralized finance, legal regulations related to market structures, and the future of cryptocurrency policies. This dialogue with Democrat senators was prompted by stalled negotiations with Republicans and the criticism of a proposed legislation that was perceived as restrictive to the decentralized finance sector. Figures like Armstrong argue that the proposed bill could stifle innovation rather than support it.

ETF Approval Delays Pressure the Market

The timing of the meeting is critical due to delays in the ETF approval processes. As the U.S. government approaches the fourth week of closure, the SEC missed crucial decision deadlines for ETFs based on altcoins like Litecoin, Solana, and XRP.

Crypto Fear and Greed Index

The delays have weakened investor confidence, with the total value of the cryptocurrency market dropping to $3.5 trillion, representing a drop of around $850 billion. The Crypto Fear and Greed Index provided by CoinMarketCap quickly shifted from “greed” to “extreme fear” levels. In an effort to adapt, ETF applicants are modifying the language of their 19b-4 forms to align with new General Listing Standards requested by the SEC. This process is seen as indicative of a forthcoming era of regulatory directions.