The largest US-based crypto exchange by trading volume says a crypto-funded and targeted Super PAC (political action committee) is raising millions to support crypto-friendly politicians.
According to a new blog post from the company, Coinbase says the crypto industry raised $78 million in the fourth quarter of this year to support “pro-innovation” candidates in the upcoming 2024 US elections.
“With more than $78 million already raised in the fourth quarter, crypto’s potential to help modernize the financial system and give everyday Americans a fair shake depends on electing candidates and enacting policies that ensure responsible, supports fair rules.
Only 9% of Americans are satisfied with the current system. For starters, the crypto industry has raised over $78 million to support the 52 million Americans who own digital assets and want a fair shot at the American Dream.”
According to the blog post, current US crypto regulatory standards are substandard, which ultimately drives innovation and financial freedom offshore.
“Given the stakes, the superpower of crypto support will now be amplified by significant spending. Fairshake Super PAC and its affiliates representing the country’s crypto community have raised more than $78 million — and counting — from 20 companies and leading industry voices to support bipartisan, crypto-forward candidates in 2024. That’s more than $78 million to support the 52 million Americans who own digital assets and want a fair shot at the American Dream.”
Coinbase encourages all its users to be active in the political process and to express their opinions to their representatives in a variety of ways; especially with their votes in next year’s elections.
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