TLDR
- The advocacy group ‘Stand With Crypto’ claims to have exceeded 1 million online signups in less than a year since its launch in August 2023.
- Stand With Crypto has raised millions in donations and started a U.S. political action committee (PAC) to influence individual political races.
- The group claims that 87% of Americans believe the current financial system needs an overhaul, and 45% would not vote for an anti-crypto candidate.
- A core focus of Stand With Crypto is to push for the passage of the ‘Financial Innovation and Technology for the 21st Century Act’ (FIT21) in the Senate.
- Former President Trump has expressed support for the crypto industry’s growth and innovation in the U.S., contrasting his previous stance against cryptocurrencies.
The cryptocurrency advocacy group ‘Stand With Crypto’ has announced a significant milestone, claiming to have surpassed 1 million online signups in less than a year since its launch in August 2023.
Backed by the crypto exchange Coinbase, the organization has rapidly gained traction, raising millions in donations and establishing its own political action committee (PAC) to influence individual political races in the United States.
According to Stand With Crypto’s Chief Strategist Nick Carr, the million-strong membership spanning across different states and political affiliations sends a clear message to Washington that cryptocurrency is a frontline issue, and the group has the numbers to back it up.
The organization’s website states that it aims to mobilize U.S. crypto enthusiasts towards political outcomes that favor the technology.
Stand With Crypto has cited survey results indicating that nearly 87% of Americans believe the current financial system needs an overhaul, and 45% of respondents would not vote for a candidate who is against cryptocurrencies.
The group claims that 52 million Americans hold some form of cryptocurrency, highlighting the growing interest and adoption of digital assets.
A core focus of Stand With Crypto’s advocacy efforts has been the push for the passage of the ‘Financial Innovation and Technology for the 21st Century Act’ (FIT21) in the Senate.
The bill, which aims to develop a robust regulatory framework for cryptocurrencies and digital assets in the United States, has already passed in the House of Representatives with bipartisan support, albeit with more Republican lawmakers voting in favor.
The crypto industry’s increasing political engagement has been evident, with over $160 million pumped into campaign-finance efforts this year, rivaling major industries and even the political parties’ own congressional war chests.
