Exodus donated $1.3 million to Stand With Crypto, a bipartisan advocacy group supporting cryptocurrency candidates in the U.S. elections.
There are barely six weeks before Election Day, so this donation, first made public by Fox Business, arrives at a critical moment.
Exodus’ support will aid in extending Stand With Crypto’s national education and voter mobilization initiatives.
Additionally, a banner endorsing Stand With Crypto and its projects may be seen on Exodus’s website. Stand With Crypto is working to sway legislative policy in favor of the cryptocurrency sector.
The organization has worked with major players in the market, such as Coinbase. According to Stand With Crypto’s website, contributions about cryptocurrencies have exceeded $180 million in this election cycle.
These initiatives reflect the industry’s growing clout and its desire to mold a regulatory landscape that is more conducive to digital assets.Â
Crypto and U.S. Politics
Other significant players in the cryptocurrency and political spheres, such as the pro-crypto Fairshake Super PAC, intend to invest $25 million in this election season to fund 18 congressional candidates, equally distributing between Democrats and Republicans.
Around a dozen states are included in the targeted efforts, including Alaska, California, and New York. Fairshake plans to invest about $1 million in each district.
This money infusion puts pro-crypto lawmakers in a stronger position to advance laws, rules, and policies. This was demonstrated when the FIT21 bill was passed earlier this year.
Political power dynamics are altered by the infusion of cryptocurrency funds into the government, which increases the clout of politicians and candidates who embrace the technology.
