There are equally big or larger players with an entrenched interest in the "regular" financial system. The environmental lobby is no slouch either. Crypto mining will only remain legal if it can defeat both of those groups and merely having a few billionaires on your side is not enough when the other side has more of them.

The fossil fuel companies have been largely unable to stop environmental regulation (though they've arguably been able to slow them down in the US somewhat); I'm not sure that a few VC firms would necessarily be able to stop the government in its tracks.

Like, the big private players in crypto-nonsense just aren't _that_ big.

Let’s play a game of who has more influence:

A16Z or Goldman Sachs?

Block or JP Morgan Chase?

Coinbase or Vanguard?