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Stand With Crypto PAC is launched to support pro-crypto politicians
A new political action committee called Stand With Crypto has been launched to garner financial support for pro-crypto politicians.
With a membership base of over 440,000, the organization revealed its bipartisan support for candidates running in the House of Representatives and the Senate, signifying a concerted effort to support the cryptocurrency and blockchain industry.
According to Federal Election Commission data, the political action committee (PAC) joins the broader effort of crypto super PACs such as Fairshake, Defend American Jobs, and Protect Progress, collectively raising more than $110 million this election cycle.
PACs aim to strengthen candidates who support cryptocurrencies amid additional scrutiny FTX founder Sam Bankman Fried it has been found guilty to defraud customers and funnel more than $100 million into U.S. political campaigns.
🛡️ 400K STRONG LAWYERS 🛡️
Today, Stand With Crypto surpassed 400,000 signups.
In 2024, the cryptocurrency constituency has impacted the election, made history, and we are still at the beginning. This movement is for all of us and you can get involved today.
Become a supporter, contact your… pic.twitter.com/kbj9UCd0qt
— Stand With Crypto🛡️ (@standwithcrypto) April 19, 2024
Nick Carr, Chief Strategist of Support cryptocurrenciesemphasized that the goal is to “support candidates and support candidates who protect the rights of our Stand With Crypto supporters throughout the month of November.”
Supporters include Jim Banks, a Republican seeking a Senate seat in Indiana; Jim Justice, a Republican seeking the Senate in West Virginia; Shomari Figures, a Democrat running for Alabama’s 2nd District; Eddy Morales, a Democrat running for Oregon’s 3rd District; and Troy Downing, a Republican seeking to represent Montana’s 2nd District.
With increasing political involvement, the cryptocurrency industry seeks to shape its regulatory environment by ensuring favorable candidates gain political traction.