American voters can now join a brand-new PAC called Stand With Crypto. Its goal is to help lawmakers who believe in cryptocurrency. The government is making big changes.
Stand With Crypto has more than 440,000 members, and the group says it will support candidates in both the House and the Senate. This project aims to get the government to pay attention to the needs of the Bitcoin and blockchain business.
Records from the Federal Election Commission show that Stand With Crypto is now one of several crypto super PACs. The others are Fairshake, Defend American Jobs, and Protect Progress. It’s crazy that these PACs have raised $110 million during this election cycle. Their goal is to help people who believe in the same things as the crypto community.
Standing at the Crossroads The Emergence of Stand With Crypto
Interestingly, Stand With Crypto came out when the cryptocurrency business was getting more attention, especially after what happened with FTX founder Sam Bankman-Fried in court. It was recently discovered that Bankman-Fried stole from customers and gave more than $100 million to US political campaigns. As this shows, people who work in the crypto business need to care about politics.
Nick Carr, chief strategist at Stand With Crypto, said that the group’s job is to support and push candidates who look out for the rights and interests of the crypto community. Carr told us, “Our goal is to endorse and support candidates protecting the rights of our advocates of Stand With Crypto throughout November.”
Republicans Jim Banks and Jim Justice are running for the Indiana and West Virginia Senates. Shomari Figures and Eddy Morales, people of color, are both running for Senate spots in Alabama and Oregon. Troy Downing in Montana and Jim Banks in Indiana are another pair of Republicans running for Senate places.
A lot of work is being done to change the rules so that candidates who support Crypto are chosen as the Crypto business becomes more active in politics. As shown by the growth of Stand With Crypto, more and more people in the U.S. are supporting cryptocurrencies.
