Former Kraken CLO Marco Santori Praises Crypto Industry's Political Campaign Donations

Former chief legal officer of the Kraken exchange, Marco Santori, praised the political campaign donations made by crypto industry firms

Former chief legal officer of the Kraken exchange, Marco Santori, has praised the political campaign donations made by crypto industry firms during the 2024 election as “democracy at work.”

In an exclusive interview with Cointelegraph's Turner Wright, the former Kraken executive argued that crypto voters tilted the election in favor of then-candidate Donald Trump and the Republican Party.

The executive also said that the election donations from crypto firms, many of which are now having regulatory lawsuits dropped, do not represent conflicts of interest. Santori told Cointelegraph:

"Everyone's talking about how the administration and the regulatory agencies had a 'pattern of behavior' in mind when it came to crypto, and how the industry was preparing for a regulatory crackdown."

"But no one's mentioning the crypto voters, who came out in droves to support the candidate and party that promised to recognize the sector."

"We all saw the exit polls after the election, and they showed that 3-4% of voters were crypto enthusiasts, who ultimately decided to vote Republican due to the party's stance on digital assets."

"Now, consider that the voter turnout was around 100 million, even though it could have been higher if more people registered to vote."

"Look at what happened in November. Who can deny that crypto was responsible for 4-5% of the vote."

"It was a huge swing in an American election, covering every state and slicing across demographics."

In September 2024, Dr. Tonya M. Evans, a tenured law professor at Pennsylvania State University, told Cointelegraph that the 2024 US elections would be decided by razor-thin margins and that crypto voters had the voting power to swing the elections.

"The 2024 election will likely be decided by a sliver of voters, with a potential shift of 1% of the electorate enough to change the outcome in key battleground states."

"This is especially pertinent in the context of crypto, which is heating up the political scene."

"If we consider the 2024 election saw around 100 million voters, shifting just 1% of the electorate—which amounts to roughly 1 million voters—could be sufficient to alter the vote share in a pivotal battleground state."

"For instance, if 51% of the vote in a specific state went to the Democratic candidate and 49% to the Republican candidate, a change of 1% could potentially determine which candidate se