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.
