- Exodus donated $1.3 million to Stand With Crypto to help mobilize cryptocurrency holders to vote in November.
- The Stand With Crypto advocacy group recently partnered with a16z and OpenSea to establish a new Creator Defense Fund.
Cryptocurrency wallet provider Exodus announced a $1.3 million contribution to the bipartisan crypto advocacy group Stand With Crypto, bringing its total donations to the organization to more than $2.79 million.
According to Exodus’ announcement on September 24, Stand With Crypto will use the funds to support community initiatives aimed at increasing voter turnout among crypto holders in the upcoming U.S. election. The program focuses on registering cryptocurrency holders and encouraging their participation in the voting process.
While voter mobilization is a primary objective, the broader aim is to push for clearer domestic cryptocurrency regulation. Electing crypto-friendly members of Congress is one route toward achieving that clarity.
Stand With Crypto is also tracking public statements and policy positions from major candidates, including remarks by Donald Trump and more recent comments from Vice President Kamala Harris regarding cryptocurrency.
We’ve tracked 21 statements on crypto from @realDonaldTrump & he’s rated Strongly Supportive.@VP Harris recently made a Somewhat Supportive statement & we’ve added it to our card.
Major candidates weighing in on crypto would’ve been unthinkable even recently. We’re winning. pic.twitter.com/OQoqqylaia
— Stand With Crypto🛡️ (@standwithcrypto) September 23, 2024
Earlier this month, Stand With Crypto teamed up with a16z and NFT marketplace OpenSea to launch a Creator Defense Fund. That litigation fund responds to the U.S. Securities and Exchange Commission’s Wells notice to OpenSea.
The Wells notice has drawn heavy criticism for what many see as overreaching regulatory tactics and for implying that certain digital collectibles could be classified as securities.
Cryptocurrency Donations to PACs
The crypto industry has also been active in U.S. election campaign giving. Major exchanges and firms such as Coinbase, Ripple, and Gemini have made substantial contributions, often directing funds to political action committees (PACs).
One super PAC that has received significant cryptocurrency contributions is Fairshake. Recent data show the PAC has received more than $177 in crypto donations and is using those funds to support the election of crypto-friendly lawmakers to Congress.