Crypto industry wields its influence in Washington after pouring over

U.S. Rep. Ritchie Torres, D-N.Y., called on New Yorkers to support the cryptocurrency market in a March op-ed in the New York Daily News titled, “A liberal case for cryptocurrency.”

“With a multi-billion dollar market capitalization, crypto is here to stay. It’s not going anywhere. New York City should and must embrace crypto if it is to remain the financial capital of the world,” wrote Torres, who sits on the House Financial Services Committee.

Torres failed to mention two upcoming fundraisers industry backers were throwing for him in April. Crypto investors Ben Horowitz, Anthony Albanese and Chris Dixon — leaders at venture capital firm Andreessen Horowitz — hosted the “Ritchie Torres Ethereum Fundraiser” at the swanky private nightclub Zero Bond in New York City on April 13, according to invitations viewed by CNBC. One of the invites promised “cocktails and conversation” with Torres, asking donors to contribute between $500 and $5,800 to attend the event. Another invite suggested donors contribute in ether, a type of cryptocurrency that’s trading at around $2,000.

Horowitz, Albanes and Dixon did not respond to requests for comment. An aide to Torres confirmed details of the fundraiser.

Torres’ op-ed and his ongoing support in Congress point to the crypto industry’s growing influence in Washington, D.C. Not only has the industry hired more than 200 officials and staff from the White House, Congress, Federal Reserve and political campaigns, according to the Tech Transparency Project, crypto executives have contributed more than $30 million toward federal candidates and campaigns since the start of the 2020 election cycle, according to Federal Election Commission records. Those investments have begun paying dividends as crypto executives landed hearings on Capitol Hill and helped to secure backing for amendments to President Joe Biden’s $1 trillion infrastructure bill, congressional aides say.

Crypto investors have established at least two new political action committees just this year, seeded with tens of millions of dollars, aimed at helping industry-friendly lawmakers get elected to Congress. Sam Bankman-Fried, CEO of crypto exchange FTX, is the primary force behind the political action committee Protect Our Future, which has raised more than $14 million and could tip the scales in House races in Ohio and Oregon.

The PAC has already endorsed Torres, who told NBC News last month that he’s received “minimal” campaign contributions from the industry.

Fred Wilson, a partner at venture capital firm Union Square Ventures, which is also heavily invested in cryptocurrencies, co-hosted another fundraising event for Torres in April, the lawmaker’s aide confirmed. The aide, who asked not to be named because the events were private, noted that the Wilson fundraiser had been rescheduled to April after originally being set to take place in December.

Bankman-Fried; SkyBridge Capital founder Anthony…