Exodus donates $1.3m to Stand With Crypto ahead of US election


Exodus donates $1.3m to Stand With Crypto ahead of US election

  crypto.news  + 1 more 24 September 2024 14:56, UTC

Exodus, a crypto wallet provider, has donated $1.3 million to Stand With Crypto, a bipartisan advocacy group focused on supporting pro-crypto candidates in the upcoming U.S. elections.

The donation, first reported by Fox Business, comes at a crucial time, with just six weeks until Election Day. Stand With Crypto aims to educate and mobilize crypto voters nationwide, and Exodus’ contribution will help expand these efforts.

Exodus’s website also showcases a banner in support of Stand With Crypto and its initiatives.

Stand With Crypto, which has partnered with industry giants like Coinbase, is pushing to influence the political landscape in favor of the crypto industry.

Stand With Crypto’s website shows that crypto-related donations have surpassed $180 million this election cycle. These efforts signal the sector’s increasing influence and its aim to shape a regulatory environment more favorable to digital assets.

You might also like: Ex-Coinbase CTO: ‘Fed wants you dead,’ Bitcoin counters state control

Crypto and U.S. politics

Other major crypto and political actors, such as the Fairshake Super PAC, a pro-crypto political action committee, plan to spend $25 million this election season to support 18 congressional candidates, evenly split between Republicans and Democrats.

The targeted campaigns span around a dozen states, including Alaska, California, and New York, with Fairshake intending to spend approximately $1 million per district.

With this influx of financial backing, pro-crypto lawmakers are better positioned to push for legislation, regulations, and policies. This was seen earlier this year with the passing of the FIT21 bill.

This influx of crypto money into the government shifts political power dynamics, giving candidates and lawmakers supporting crypto more influence.

You might also like: Telegram’s Durov: User data may be shared with authorities

Leave a Reply

Your email address will not be published. Required fields are marked *

Back To Top