Exodus Contributes to Voter Mobilization
- Exodus has donated $1.3 million to Stand With Crypto to encourage voting among crypto holders.
- Stand With Crypto partners with a16z and OpenSea to establish a creator legal fund.
In a significant move, crypto wallet provider Exodus has announced its donation of $1.3 million to Stand With Crypto, a bipartisan advocacy organization supporting cryptocurrency enthusiasts. This contribution raises the total funding for the group to over $2.79 million.
Funding for Election Initiatives
According to a statement released on September 24, the funds will be utilized by Stand With Crypto to promote community initiatives aimed at increasing voter turnout in the upcoming U.S. elections. The initiative specifically focuses on motivating crypto holders to register and participate in voting processes.
Beyond Voting: Aiming for Regulatory Clarity
While the mobilization of voters is a vital component, the wider objective is to advocate for clear regulations surrounding cryptocurrency in the United States. Electing legislators who support crypto innovations is a pivotal step in this direction.
Tracking Political Statements on Crypto
Stand With Crypto is also monitoring remarks related to cryptocurrency from high-profile politicians, including Donald Trump and Kamala Harris.
We’ve tracked 21 statements on crypto from @realDonaldTrump & he’s rated Strongly Supportive. @VP Harris recently made a Somewhat Supportive statement & we’ve added it to our card.
Major candidates weighing in on crypto would’ve been unthinkable even recently. We’re winning. pic.twitter.com/OQoqqylaia
— Stand With Crypto🛡️ (@standwithcrypto) September 23, 2024
Support for Creator Advocacy
This month, Stand With Crypto collaborated with a16z and the NFT marketplace OpenSea to launch a Creator Defense Fund. This legal fund was established in response to the SEC’s Wells Notice against OpenSea, an action widely criticized for its perceived regulatory overreach in designating digital collectibles as securities.
Campaign Contributions from the Crypto Sector
The cryptocurrency industry has become significantly involved in U.S. election campaign contributions, with key players like Coinbase, Ripple, and Gemini donating to political action committees (PACs).
Major PAC Beneficiaries
One notable recipient of substantial donations is the Fairshake PAC, which has received over $177 million in crypto donations aimed at electing crypto-friendly lawmakers to Congress.
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