A cryptocurrency nonprofit launched a new political action committee (PAC) named Stand With Crypto to support pro-crypto politicians. The committee’s 440,000 members will enhance this effort to influence races in both the House of Representatives and the Senate.Â
Data from the Federal Election Commission reveals that crypto super PACs such as Fairshake, Defend American Jobs, and Protect Progress have collectively raised over $110 million for this election cycle, unlike these super PACs, which can accept unlimited donations but must not coordinate directly with campaigns.
Endorsed candidates include Republicans Jim Banks of Indiana and Jim Justice of West Virginia, both running for Senate, as well as Democrats Shomari Figures and Eddy Morales, campaigning for congressional seats in Alabama and Oregon, respectively. Additionally, Republican Troy Downing is supported for his run in Montana’s Second District.
Nick Carr, chief strategist for Stand With Crypto, stated the PAC’s mission is to support candidates who will defend the rights of cryptocurrency advocates into November.
The industry’s influence is evidenced by recent victories, including several endorsed candidates winning their primaries in Indiana, signaling a growing political footprint for cryptocurrency interests in the upcoming elections.
Also read: Trump to Accept Crypto Donations for 2024 Campaign
