Exodus, a cryptocurrency wallet provider founded in 2015, has announced a $1.3 million donation to the Stand With Crypto Alliance.
Exodus, a cryptocurrency wallet provider founded in 2015, has announced a $1.3 million donation to the Stand With Crypto Alliance, a political action committee (PAC) focused on increasing political engagement among American crypto voters.
The donation, made public on September 24, aims to support the PAC's mission of educating voters about cryptocurrency and advocating for regulatory clarity in the industry.
The Stand With Crypto Alliance, established in May 2023 by Coinbase, seeks to mobilize an estimated 52 million American crypto owners as the presidential election approaches on November 5.
The alliance claims to have raised a total of $180 million from approximately 1.49 million crypto advocates, although the Federal Election Commission reports that only $13,690 had been contributed directly to the PAC as of June 30.
In addition to voter mobilization, the organization is advocating for policies such as the “Financial Innovation and Technology for the 21st Century Act” (FIT21), which has garnered bipartisan support in Congress.
The alliance has developed a database of over 1,000 politicians, providing letter grades based on their support for the crypto industry.
The organization updated its scorecard on September 25, indicating a need for clearer stances from candidates to qualify for a grade.
Political analysts have highlighted the significance of crypto voters in the upcoming election. John Anzalone, a former campaign strategist for Joe Biden, noted that this demographic could be a crucial factor in determining electoral outcomes.
Current polling suggests a tight race between Democratic candidate Vice President Kamala Harris and Republican candidate former President Donald Trump, with Harris holding a slim lead of 50% compared to Trump’s 48%, according to the crypto prediction platform Polymarket.
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