"But, at least for now, it’s been a good week for the crypto industry, which, in addition to its political wins, saw the price of Bitcoin briefly hit an all-time high of $69,000 a coin."

Despite recent challenges, including the downfall of prolific donor Sam Bankman-Fried, the crypto industry's political investments have yielded crucial wins amid the prospect of tougher regulations from the U.S. Securities and Exchange Commission (SEC).