Imagine a world where cryptocurrency isn’t just a digital gold rush but also a budding political dynasty. That’s the vibe in Washington right now, as the crypto industry, reeling from the ups and downs of their favorite coinage, is determined to cement its place in the American political landscape.

Recently, David Sacks, a crypto puppet master in the Trump administration, held a press conference announcing a congressional working group for cryptocurrency regulation. The crypto crowd tuned in, only to roll their eyes like they’d just seen a TikTok dance they’d seen too many times before. “There were a lot of people on X (formerly known as Twitter) who felt like this wasn’t, you know, a mind-blowing announcement,” Sacks sheepishly admitted on a podcast. But don’t let Sacks’ defensiveness fool you; he claims this is monumental simply because, well, folks, it’s the first time this has ever happened.

Nothing says power play like throwing money at the political machine, and, boy, has the crypto sector done just that. They’ve gotten cozy with politicians who cozy up to them back, and now they’re itching to make their presence felt in quite the assertive manner. Ji Hun Kim, a digital asset advocate, echoed the urgency at a recent House committee hearing, asserting that “time is critical”.

Some crypto moguls aren’t merely content with steering political landscapes; they’ve opted for some good old-fashioned grudges. Case in point: Tyler Winklevoss of Gemini fame has sworn off hiring MIT grads because the school rehired Gary Gensler, the former SEC chair who, in their eyes, was a bit too eager to keep the crypto cowboys in check. Irony alert: punishing students for a former professor’s antics feels like a particularly spicy form of corporate revenge.

As Congress warms up to crypto enthusiasm, there are grumbles about past administrations allegedly weaponizing regulation against them. New Republican leadership at the SEC seems to be waving a wand, promising a “new day”, but how new is that really? While the SEC took its sweet time kicking the various crypto debates into gear, they’ve recently asked to pause a lawsuit against Binance, signaling a rethink of their past approach.

As Sacks and a cadre of crypto-friendly lawmakers push to get some legislation rolling, including regulations on stablecoins (that’s crypto you can kind of trust) and rules for exchanges, they’re hoping for a bipartisan shower of support this time around. The stakes? High. The rewards? Potentially life-changing, unless you’re Hester Peirce, the SEC Commissioner who reminds everyone to just chill out and be patient.

So, welcome to the new crypto war room where legislation could land like a meme going viral. The industry is reeling from both massive gains and debilitating losses. But they’re banding together, and the political game is one they’re determined to play very, very hard. A united front today doesn’t eliminate the potential for factions tomorrow, but for now, let’s see if they can’t ride this wave of political ambition all the way to the bank.