Blockchain Gaming
Crypto Advocates' Political Contributions Revealed
Thursday. July 25 at 7:00 AM
1 min. readCoinbase's Stand With Crypto initiative recently disclosed its political involvement by launching a PAC to support candidates in the upcoming 2024 US elections. Despite claims of $179 million in donations from crypto advocates, only a fraction actually went to the PAC. Federal filings show that the Stand With Crypto PAC received just over $13,690 from seven individuals, mostly linked to Coinbase. Surprisingly, the bulk of the funds, around $178 million, went to the Fairshake PAC for supporting candidates through attack ads and media buys. Additionally, a nonprofit arm of Stand With Crypto received $1.49 million. This political engagement reflects the growing influence of crypto in elections, with PACs backing candidates aligned with the industry. As the 2024 election approaches, the impact of digital asset leaders' support on candidates and campaigns is becoming more evident.