Conservatives Embrace Crypto as Progressives Lag Behind

Progressives are losing the crypto future as conservatives increasingly embrace cryptocurrency as a parallel financial system. This shift is evident in the political landscape, where conservative lawmakers, strategists, and donors are leveraging crypto to reshape decisions, particularly in regions with fewer regulations. This has created an environment shaped by right-leaning values, with progressives essentially sitting it out.

Crypto-aligned political action committees (PACs) and donors poured significant funds into the 2022 midterms, highlighting the growing influence of crypto in political fundraising. The sentiment among Republican-leaning men towards crypto investments is notably higher compared to their left-leaning peers. This disparity raises questions about why liberals remain indifferent to crypto despite its potential as a tool of political power.

Many progressive organizations have been hesitant to adopt crypto due to risk aversion, optics, and a lack of internal alignment on digital assets. Liberals often prioritize equity and systemic reform, viewing profit motives with skepticism. This perspective has grown as progressives have pushed the Democratic Party further left, leading to a resistance towards tech adoption similar to the early web era.

Progressives have legitimate concerns about crypto, including its use for fraud, tax evasion, and energy waste. Decentralized finance often aligns with libertarian ideology, which can be seen as a problem of opportunistic deployment rather than a structural flaw. When liberals and progressives show contempt before investigation, they allow the culture to be defined by the very beliefs they stand against.

A closer examination of the crypto landscape reveals that blockchain can be a vehicle for projects aligning with left-leaning values. For instance, Solana consumes a fraction of Bitcoin’s energy, and Gitcoin has directed over $50 million to digital public goods. Projects like DisCO explore governance models emphasizing collaboration and shared accountability, demonstrating the potential for crypto to support progressive values.

Whether progressives help shape the future of crypto depends on their current actions. A few Democratic Party representatives have voiced nuanced positions, but ecosystems evolve based on participation. Wyoming has already passed legislation enabling decentralized autonomous organization (DAO) recognition, setting a precedent for other regions. If the left wants to influence the crypto landscape, it needs to move from critique to contribution by convening working groups, piloting real-world projects, and backing credible experiments.

Crypto’s influence extends beyond financial transactions; it is quietly becoming the scaffolding for everything from civic tools to voting systems. If progressives remain on the sidelines, they risk losing leverage and relevance as the rules are written by others. It is not too late for progressives to engage. They do not need to go all in but can start by funding an equity-first DAO, partnering with one city, or supporting one real experiment. Contribution matters more than consensus in decentralized systems, and showing up is how progressives can shape the outcome.

The future of a fair and democratic blockchain demands input from across the political spectrum. As crypto infrastructure becomes more integrated into society, the left must actively participate to ensure that the values of equity and systemic reform are reflected in the evolving landscape. Progressives have the opportunity to influence the direction of crypto by engaging in meaningful ways, rather than allowing it to be defined by conservative values alone.