Crypto wallet provider Exodus announced a sizeable donation to the Stand With Crypto Alliance in an effort to garner more political support for the industry from American voters.
Exodus, a firm founded in 2015 behind the popular crypto wallet, announced its $1.3 million donation on Sept. 24 to the Stand with Crypto political action committee (PAC) to “help support their mission of educating and mobilizing crypto voters around the country.”
The Stand With Crypto Alliance, which started the PAC in May, claims there are 52 million American crypto owners it strives to empower through education and political awareness in the lead-up to the United States presidential election on Nov. 5.
The nonprofit organization also claims on its website to have accrued $180 million in donations from 1.49 million crypto advocates. However, the Federal Election Commission reports that only $13,690 had gone directly to the PAC as of June 30.
The organization also focuses on advocating for crypto regulations, including the passage of the “Financial Innovation and Technology for the 21st Century Act” (FIT21), which received bipartisan support in Congress.
The organization, which was formed in May 2023 by Coinbase, has a database of more than 1,000 politicians, grading them by letter on their level of support for the crypto industry.
Itupdated its politician scorecard on Sept. 25 and now requires “additional clarity” from candidates in order to qualify for a letter grade.
Source: Stand With Crypto
Crypto voters may be a key factor in determining the outcome of the November election. Last month, former Joe Biden campaigner John Anzalone said that crypto “could be a really important swing universe.”
“I don’t care whether you’re a Democrat or you’re a Republican — this is a group that you should talk to as a candidate,” he said at the time, before adding, “This is a group that is now gaining strength and has power and has a voice, and that becomes really important.”
Related: Stand With Crypto reports 121K have used voter registration since 2023
The race between the two presidential candidates, Democratic Party contender Vice President Kamala Harris and Republican Party contender former President Donald Trump, couldn’t be closer.
According to the crypto prediction platform Polymarket, Harris has a slim lead of 50% compared with Trump’s 48%.
Trump has repeatedly expressed his support for the crypto industry, even buying burgers with Bitcoin (BTC) at a New York bar on Sept. 18.
Meanwhile, Harris only recently suggested that she would support innovation and introduce clear regulations for digital assets.
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