Stand With Crypto Alliance Receives Major Funding from Exodus

TLDR

• Exodus, a crypto wallet provider, donated $1.3 million to Stand With Crypto Alliance PAC
• The donation aims to educate and mobilize crypto voters for the 2024 US presidential election
• Stand With Crypto Alliance claims to represent 52 million American crypto owners
• The organization grades politicians on their support for the crypto industry
• Crypto voters could be a key factor in determining the outcome of the November election

Exodus, a well-known crypto wallet provider, has made a significant move in the political arena by donating $1.3 million to the Stand With Crypto Alliance political action committee (PAC).

The company announced this donation on September 24, 2023, stating that the funds are intended to support the PAC’s mission of educating and mobilizing crypto voters across the United States.

The Stand With Crypto Alliance, which formed the PAC in May 2023, claims to represent the interests of 52 million American crypto owners.

The organization aims to empower these voters through education and political awareness as the United States approaches its presidential election on November 5, 2024.

Exodus is proud to announce our $1.3 million commitment to #StandWithCrypto 🛡️

This will help support their mission of educating and mobilizing crypto voters around the country. pic.twitter.com/zIgyo0bkjR

— Exodus (@exodus_io) September 24, 2024

According to the Stand With Crypto Alliance’s website, the organization has received $180 million in donations from 1.49 million crypto advocates.

However, it’s important to note that Federal Election Commission reports indicate that only $13,690 had been directly contributed to the PAC as of June 30, 2023.

One of the key focuses of the Stand With Crypto Alliance is advocating for crypto regulations.

The organization supports the passage of the “Financial Innovation and Technology for the 21st Century Act” (FIT21), which has gained bipartisan support in Congress.

We were built for the crypto community and we hear you.

SWC has updated our scorecard & now requires additional clarity from candidates up & down the ballot in order to qualify for a letter grade.

View all our scores at: https://t.co/s61lprzIT1

— Stand With Crypto🛡️ (@standwithcrypto) September 25, 2024

To help voters make informed decisions, the Stand With Crypto Alliance maintains a database of more than 1,000 politicians, grading them on their level of support for the crypto industry.

The organization recently updated its politician scorecard on September 25, 2023, implementing stricter requirements for candidates to receive a letter grade.

Political analysts are taking notice of the potential impact of crypto voters on the upcoming election. John Anzalone, a former Joe Biden campaigner, stated that crypto “could be a really important swing universe.”

He emphasized the importance of candidates engaging with this group, regardless of their political affiliation.

The current presidential race between Vice President Kamala Harris and former President Donald Trump is extremely close.

According to the crypto prediction platform Polymarket, Harris has a slight lead of 50% compared to Trump’s 48%.

Both candidates have shown varying levels of engagement with the crypto community. Trump has openly expressed support for the crypto industry, even participating in a publicized event where he bought burgers using Bitcoin at a New York bar on September 18, 2023.

On the other hand, Harris has only recently suggested that she would support innovation and introduce clear regulations for digital assets.