The Fortune piece argues that the modern crypto industry has moved from a fringe, anti-establishment stance to a major political force in Washington, led by large players like Coinbase and Ripple and epitomized by a $30 million Super PAC effort in Ohio tied to a Senate race.

It criticizes SEC Chair Gary Gensler’s aggressive regulatory approach, suggesting it pushed crypto firms to engage more directly in Washington, while questioning whether their current political strategy is effective.

The article calls for a coherent, professional political strategy to sustain influence and improve public perception, noting that polls show crypto is less popular than Big Oil or Big Pharma.

The author invokes the metaphor that a pirate has become the navy, describing crypto’s transition into an entrenched policy actor and urging leaders to take responsibility for shaping financial systems and their image.

Additional Fortune context on crypto market dynamics and industry events is provided to frame ongoing developments while keeping the focus on Washington influence and strategic direction.

Crypto interests have built substantial political influence via big money and a trade association, with leadership changes signaling a shift toward traditional lobbying, including a high-salary CEO role and a revolving door hire from the CFTC.