FOLLOW US

In a big move for the cryptocurrency industry, the Stand with Crypto Alliance political action committee (PAC), launched by Coinbase in 2023, has announced that more than 1 million Americans have joined their cause. They are set to influence policy in Washington, D.C. 

This comes as both major political parties in the U.S. navigate their positions on cryptocurrency, with Trump's campaign recently announcing it would accept donations in crypto and Biden's campaign yet to comment on the matter.

CWD Outbreak in Texas: Texas Parks and Wildlife Officials Kill 249 ‘Zombie Deer’ - USA Herald

Court Case: X Petitions Supreme Court over Social Media Privacy Concerns - USA Herald

Empower Oversight: FBI agent was a Whistleblower after January 6 Capitol Riot - USA Herald

Science News: Australia’s Southern Cryonics Freezes ‘Patient One’ - USA Herald

Stand With Crypto

According to the pro-crypto PAC, 52 million Americans currently hold some form of cryptocurrency. A recent survey reveals that 87% of Americans believe the existing financial system requires significant changes, and 45% of respondents indicated they would not support an anti-crypto candidate in elections.

Brian Armstrong, CEO of Coinbase, emphasized the broad appeal of cryptocurrency across the political spectrum. “52 million Americans have used cryptocurrencies,” Armstrong said, noting this encompasses roughly one in five Democrats, Republicans, or independent voters. 

Many users are frustrated by the lack of clear regulations in the industry. “They’re looking to elect representatives that are aligned with their values,” Armstrong added.

A Powerful Voter Bloc

The rapid growth of the Stand with Crypto Alliance underscores the potential influence of cryptocurrency advocates in upcoming elections. 

Armstrong highlighted that this group represents a substantial and underestimated voting bloc.

 The cryptocurrency industry is expected to invest tens of millions of dollars in the 2024 U.S. elections to support crypto-friendly candidates and oppose those advocating for stringent regulations.

Earlier this week, Coinbase announced a $25 million donation to the pro-crypto political action committee Fairshake. This contribution matches recent donations from Ripple, a prominent crypto payments company, and Andreessen Horowitz, a tech-focused venture capital firm.

Crypto in the Swing States

Stand with Crypto has strategically focused its efforts on swing states. The group now boasts nearly 24,000 members in Georgia, a state where President Biden narrowly defeated Donald Trump in the 2020 election. And they have over 16,000 members in Arizona, another key battleground.