Coinbase Says Crypto Industry Super PAC Has Raised Over $78,000,000 To Help Elect Friendly Candidates in the US
The largest US-based crypto exchange by trading volume says a crypto-funded and focused Super PAC (political action committee) is raising millions to support crypto-friendly politicians.
According to a new company blog post, Coinbase says that the crypto industry has raised $78 million in the fourth quarter of this year to support “pro-innovation” candidates in the upcoming 2024 US election.
“With over $78 million already raised in Q4, crypto’s potential to help update the financial system and give everyday Americans a fair shake hinges on the election of candidates and the enactment of policies that support responsible, fair rules.
Just 9% of Americans are satisfied with the current system. The crypto industry has raised over $78 million – as a start – to support the 52 million Americans who own digital assets and want a fair shake at the American Dream.”
According to the blog post, the US’s current crypto regulatory standards are sub-par, ultimately driving innovation and financial freedom offshore.
“Given the stakes, crypto’s superpower of grassroots support will now be amplified through significant spending. Fairshake Super PAC and its affiliates representing the nation’s crypto community, have raised over $78 million – and counting – from 20 companies and leading industry voices to support bipartisan, crypto-forward candidates in 2024. That’s over $78 million to support the 52 million Americans who own digital assets and want a fair shake at the American Dream.”
Coinbase encourages all its users to be active in the political process and to voice their opinions to their representatives in various ways; most notably, with their vote in next year’s election.
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