non-profit organization support cryptocurrencies Reportedly established political action committee (PAC) to support candidates who Cryptocurrency and blockchain friendly.
New PAC aims to raise money from Stand With Crypto's 440,000 members, Reuters report Friday (May 10).
“Our goal is to support candidates throughout November and support candidates who will protect the rights of Stand With Crypto supporters.” nick carrChief Strategist at Stand with Crypto said in a report:
Some super PACs focused on cryptocurrencies include: fair shakeprotect American jobs, Protecting your progress,raised total $110 million this election season, according to the report.
crypto sector Super PAC Became one of the top three fundraisers in the 2024 election cycle, backed solely by super PACs Ron DeSantisNonprofit consumer advocacy group supporting failed presidential campaigns and Democratic Senate candidates Citizens said in report It was released on Monday (May 6th).
“Of the six now-concluded 2024 primaries in which crypto super PACs intervened, only one crypto-backed candidate lost,” Public Citizen said in an article. Ta. press release About the report. “There are 11 primaries remaining that include crypto-backed candidates. Crypto super PACs have pledged to put money into the general election Senate races in the battleground states of Ohio and Montana. ”
It was reported in March that it would focus on virtual currencies. Super PAC It spent at least $13 million on the March 5 Super Tuesday primaries in Texas, California and Alabama.
“The crypto community plays politics to win,” FairShake spokesperson Josh Brust said at the time. “We will have influence and influence in campaigns supporting candidates who align with our policies and policies. our vision. “
Cryptocurrency companies are also spending record amounts of cash on: lobby for their cause in Washington.
In the first three quarters of 2023, digital asset companies spent $18.9 million on lobbying. This figure increased from $16.1 million in 2021, despite the collapse of FTX, which was one of the biggest spenders when it came to lobbying.
“Our goal is to engage directly with policymakers and build relationships to close the education gap and create a common-sense regulatory framework.” blockchain association CEO kristin smith he said in December.
In September Stand With Crypto hosted an event in Washington parallel Proposed by 50 cryptocurrency founders legislative clarity agree with their opinion Own the goal.
