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U.S. Vice President and Democratic presidential candidate Kamala Harris speaks at a campaign rally in Milwaukee, Wisconsin, U.S. August 20, 2024. 

Marco Bello | Reuters

As the 2024 U.S. elections reach their home stretch, crypto companies are opening their wallets to try and influence the results.

Nearly half of all the corporate money flowing into the election has come from the crypto industry, according to a report this week from the nonprofit watchdog group Public Citizen. The sum, approximately $119 million, was raised from a mix of contributors, with Coinbase and Ripple accounting for more than 80% of the donations.

Most of the money is going to super PACs that are backing pro-crypto candidates running for office this year. The industry has faced heightened scrutiny during the Biden administration, and Coinbase and Ripple are two of the biggest players that have been engaged in legal battles with the Securities and Exchange Commission.

Donald Trump, the Republican nominee, has tried to exploit the rift between the crypto industry and the Democrats by pitching himself as the pro-crypto choice and even keynoting a major bitcoin conference in Nashville, Tennessee, last month. But money is flowing into both parties, as the House, Senate and the presidency remain very much up for grabs.

Ripple's chief legal officer lays out what's next after its $125 million penalty in SEC case

No other sector is keeping up with crypto. That includes oil companies and banks, which have historically been big political contributors.

Since 2010, when the Supreme Court’s Citizens United ruling opened the door for limitless corporate money in U.S. elections, the crypto sector has accounted for 15% of all disclosed contributions. More than 90% of the corporate crypto cash that’s been raised was brought in this election cycle.

Rick Claypool, research director at Public Citizen, who authored the latest report, said the massive money poured in by crypto companies to “silence crypto’s critics and elevate its backers embodies everything that is wrong with the Supreme Court’s disastrous Citizens United decision.” 

Claypool’s research shows that crypto corporations are second only to fossil fuel conglomerates in total election-related spending since the 2010 ruling.

Fairshake is the most popular of the pro-crypto, bipartisan super PACs. It’s funded by some of the industry’s leading companies and has become one of the top-spending PACs this year.

The majority of the group’s funds can be traced to four sources. Coinbase has contributed $49 million, venture firm Andreessen Horowitz has donated $47 million, Ripple has given $47 million and Jump Crypto put in $15 million. In total, Fairshake and its two affiliated PACs have raised around $169 million, with more than 90% coming directly from corporations.

Other funds have come from a mix of donors. Coinbase CEO Brian Armstrong, for example, gave $1 million, while the Winklevoss twins put in $5 million.

A filing with the Federal Election Commission on Tuesday showed that during July, Fairshake disbursed almost $75 million. Data compiled from FEC reports by OpenSecrets indicates that Fairshake has nearly $120 million in its coffers to deploy with less than 80 days to go until the November election.

The super PAC has pledged $25 million from that pool of cash to 18 House candidates in the general election, to be split among nine Democrats and nine Republicans. It’s committed another $18 million to three Senate races.

‘Eye-popping sums’

The industry’s strategy paid off in the primaries.

Public Citizen’s report found that of the 42 primary races that attracted money from crypto-backed super PACs, the candidate picked by the crypto industry won 36. But many of them aren’t publicly promoting their stance on crypto.

“When Fairshake and its affiliates spend money to influence races, either by attacking crypto skeptics or boosting crypto supporters, the ads don’t mention crypto at all,” said Claypool.

In New York and California congressional races, the crypto-funded campaign ads attacked the targeted candidates with traditional political jabs, and no mention of crypto.

“The sole reason crypto is a hot-button topic in this election cycle is that crypto businesses are spending eye-popping sums to make themselves impossible to ignore,” Claypool said.

Democrats are trying to show they can find common ground with the industry despite the tension that’s emerged in recent years.

Senate Majority Leader Chuck Schumer, D-N.Y., kicked off a virtual town hall dubbed “Crypto4Harris” in August. He said at the event that a crypto law could pass the Senate by the end of the year.

Vice President Kamala Harris’s campaign team is actively working to craft a platform stance around the crypto industry and reset the approach taken by President Joe Biden, several key Democrats told CNBC. On Tuesday, Harris’ campaign announced plans to adopt a pro-crypto innovation stance.

Coinbase Chief Policy Officer Faryar Shirzad praised the move, writing on X that he’s been “pleased to take part in a number of discussions with the Harris team.” He described the approach as “constructive” and said “the dialogue had been an important first step.”

Read more about tech and crypto from CNBC Pro

Meanwhile, money has rolled into Trump’s campaign from digital asset executives since he leaned into being the pro-crypto candidate.

Trump has adopted increasingly bullish talking points on cryptocurrencies on the campaign trail, and he announced in late July that he had raised $25 million from crypto interests, a figure that CNBC hasn’t independently confirmed.

Crypto executives have turned up at fundraisers for Trump in San Francisco and Nashville, where the Republican nominee told an audience of conferencegoers that if he were returned to the White House, he would ensure that the federal government never sells off its bitcoin holdings.

“This afternoon I’m laying out my plan to ensure that the United States will be the crypto capital of the planet and the bitcoin superpower of the world,” Trump said. “And we’ll get it done.”

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Volvo DD25 Electric compactor gets to work in Yolo County, California

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Volvo DD25 Electric compactor gets to work in Yolo County, California

Yolo County, California depends on its climate for continued agricultural success. As such, the county’s leaders are taking environmental stewardship seriously by aiming for full carbon neutrality by 2030. To help achieve that goal, they’re putting zero-emission machinery like the Volvo DD25 Electric compactor to work.

We got our first chance to sample the DD25 Electric at Volvo Days last summer, where the all-electric tandem roller’s vibrating drums impressed dealers and end users alike. It was no surprise, then, that when Yolo Country fleet superintendent, Ben Lee, when shopping for a compactor the DD25 Electric was high on his list.

“The DD25 Electric will help us achieve our goals in several ways,” explains Lee. “By reducing emissions, lowering noise levels, being more energy-efficient, improving working conditions and promoting environmentally friendly practices … we’ll use it to compact soil, gravel and other base materials for road and foundation projects, as well as rolling out and leveling asphalt during road construction and resurfacing.”

To help Lee handle those various projects, the Volvo’s drum frequency can be adjusted from 3500 vpm (55 Hz) to 4000 vpm (67 Hz) to cater to different applications and materials.

The DD25 Electric offers other benefits, as well – like a 20 kWh 48V battery that offers up between six and eight hours of continuous operation. That’s could be several shifts in the kind of conditions Yolo’s work crews will encounter, meaning it will only have to get put to bed (Volvo recommend overnight AC charging) two or three times a week.

Getting power to the compactor, too, is something Yolo is considering. “There are some remote areas in the county, so we’re looking into a mobile, self-contained charging unit as well,” explains Lee, apparently referencing the Volvo PU130 mobile battery. “So we wouldn’t have to bring the machine back to the yard each night during a long-term project.”

Yolo County views electric equipment as an essential step in reducing emissions and energy consumption, especially as communities work towards stricter regulations and sustainability goals.

Electrek’s Take

Ed Galindo, E-Mobility Product Manager at VCES, educates Yolo employees; via Volvo CE.

This press release came to us ahead of the devastating wild fires in Southern California that are dominating headlines right now – so much so that I effectively sat on the news for a few days, debating whether or not we should even be talking about a California news story that isn’t about the fires right now.

But I realized: this story is about the fires. Climate change driven by combustion and carbon emissions is driving climate change and that’s making fires like these possible … and I should have run it sooner.

SOURCE | IMAGES: Volvo CE.

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CES2025 | Kubota brings electric equipment, robots, and hydrogen to CES

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CES2025 | Kubota brings electric equipment, robots, and hydrogen to CES

Kubota came to this year’s CES with a sprawling display filled with electric equipment, hydrogen gensets, and an onslaught of commercial robots ready to mow, farm, dig, and build. If you weren’t impressed by Kubota’s display this year, you weren’t paying attention.

Kubota gave us a sneak peek of its KATR farm robot – itself a smaller, updated version of last year’s New Agri Concept – before the doors officially opened last week. Kubota’s robotic farm buddies promise to be able to quietly and autonomously haul stuff from one end of the farm to another, or pull carts and specialized implements along predetermined paths.

KATR uses self-leveling technology and active suspension to ensure its cargo deck stays level when working on the sort of uneven terrain found on farms or construction sites.

Kubota KATR w/ self-leveling cargo deck; photo by the author.

That doesn’t mean the New Agri Concept is dead, though. Agri Concept 2.0 debuted as an electric tractor concept offering AI-powered automation and a fully electric powertrain. The new version features a Lite Brite-style “grille” that it uses to communicate its current mode, direction, and other important information with the people it shares a job site with.

On the more practical side, Kubota showed off its KX38-4e Electric compact excavator. First shown in overseas markets in 2022, the KX38-4e Electric features a 49.2 kWh lithium-ion battery that’s good for up to five hours of continuous operation. More than enough to complete a typical day of work on a construction site when you factor out idle time.

An onboard DC fast charger means it can be quickly recharged between shifts, too. But when there’s no grid power on the site, charging can be a challenge. That’s why Kubota has hydrogen genset for zero-emission on-site power generation.

Looked at individually, each of the new electric Kubota products on display might be impressive. The real magic, though, is in the way the Kubota machines work together as a holistic job site or farm solution.

“At Kubota, we believe that truly listening to our customers drives innovation in every aspect of what we call the ‘Work Loop’,” explains Brett McMickell, Chief Technology Officer of Kubota North America. “The Work Loop — an essential cycle of assessing, analyzing, and acting — has always been fundamental to effective task management. With the integration of advanced sensors, AI-driven analysis, networking protocols, automation, and robotics, we are enhancing this cycle to be more seamless and efficient than ever before.”

That was obvious in some of the more thoughtful implements and attachments on display, including a Smart Plant Imager that uses advanced robotics and “hyper-spectral imaging” cameras to capture real-time data and insights on a plant-by-plant level – as well as a Smart Autonomous Sprayer and Robotic Pruner that that classifies buds and canes based on position and fruiting potential, it optimizes production precision and accuracy.

The more you look, the more impressive Kubota’s farming solution gets. “We will continue to learn from many of our customers across segments to iterate the next product and technology solution that will help them manage tomorrow’s challenges and grow their businesses,” McMickell added. “This is how Kubota works to make a better quality of life for individuals and society.”

There was more, of course. Autonomous versions of the company’s electric zero-turn mower with GPS-powered route memory, fun accessory baskets for the robots, even a weird, jet engine looking thing that I forgot to ask about (below). I was genuinely impressed, in other words, and can’t wait to see what Kubota comes up with next year.

Kubota CES2025 | more photos

Original content from Electrek.

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Tenways C GO 600Pro commuter e-bike is as smooth as it gets

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Tenways C GO 600Pro commuter e-bike is as smooth as it gets

The e-bike industry has stalled a little bit in terms of features, and with harsh new legislation coming in from places like California, maybe it is time to start looking at e-bikes that are light, efficient, and smooth rather than how much wattage they can output. The Tenways CGO 600Pro, which comes in at just 37 pounds, is a model e-bike you should keep an eye on…

The CGO 600Pro comes in 2 flavors: a carbon belt single-speed version that Micah reviewed and this one, which is a chain and 8-speed Shimano gears. The belt drive is going to win out on simplicity and weight but if you are expecting to get close to the ‘class 1’ top speed of 20mph or need to go up some significant hills, you’ll want to opt for the chain/gear version here.

One thing I love about this bike is the tradeoff decisions. These keep the price low and weight down while still providing a great ride. The spec sheet overall is solid but not top-shelf.

Tenways CGO600 Pro tech specs (chain/geared version)

  • Motor: 350 Watt rear hub motor with 45 Nm of torque
  • Top speed: 20 mph (32 km/h)
  • Range: Claimed up to 53 miles (85 km)
  • Battery: 36V 10Ah (360 Wh)
  • Weight: 37 lb (16.8 kg, over 40lbs with fenders, kickstand, etc)
  • Frame: 6061 aluminum alloy
  • Tires: CST Puncture-proof 700*45C-size Tires
  • Brakes: Tektro dual-piston hydraulic disc brakes
  • Gearing: Shimano 8-Speed Claris
  • Extras: Compact LED display, 4 pedal assist levels, slim fender set, kickstand, internally routed cables, LED lighting, removable battery, Tenways app integration, torque sensor, four color options

No Throttle?

Note that as a class 1 e-bike, neither belt/chain version has a throttle. While this may be controversial to some, it not only simplifies the bike, it makes it a Class 1, which will be legal in the most places. I tend to think of no throttle as a “foot throttle” and for the commuter application, this will serve well. Would I appreciate a throttle on a hill start? Perhaps.

The idea of this bike is to just enhance your pedal bike experience. You are going to get some exercise on this bike versus a bike that is a glorified low-power moped that runs on throttle with vestigial pedals.

More importantly, the torque sensor here is phenomenal; I mean, it is probably the best torque sensor I’ve ridden connected to a rear hub motor. The acceleration is smooth and strangely powerful for the 350W/45nm motor. Significant hills are a breeze, and this is one of the few bikes where I forget that I’m using an e-bike sometimes (until I look down and I’m going 20mph with little effort). Hills are also where the gearing really helps.

The tires are also the perfect size for a commuter with puncture resistance and treads that will do OK in rain and snow.

The bike itself is also very stealthy in terms of showing that it is a powered e-bike. The small 36V, 10Ah battery is integrated magnificently into the narrow downtube of the bike. All of the cables are integrated into the bike frame for a super-clean look. The rear hub motor is small but packs a punch. Many people won’t even recognize this as an e-bike. While I’m proud to be riding an e-bike around, perhaps some people would like to keep that on the down-low.

Brakes are great with hydraulic Tektros clasping against 160mm rotors in front and back. It is such a light bike that stopping can be jarring.

Assembly was super easy and took about 30 minutes with the included tool set. The battery came about 40% charged but was ready to go within a few hours with the 3A charger. Shoutout to Tenways for using a water-resistant standardized barrel charger adapter and not some proprietary adapter so that I can use one from another bike when I inevitably lose it.

Electrek’s take

The Tenways CGO600 is a fantastic light, clean, stiff and smooth e-bike that I have 0 reservations about recommending. While the battery and motor are small, they power the light bike admirably and for around 50 miles (your mileage will vary).

Currently there is a $200 off promotion code “HAPPY2025TW” at checkout bringing the CGO600Pro down to $1399 which is an amazing price for this bike:

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