The 'Stand With Crypto' Movement Successfully Collects Donations Worth IDR 1.4 Trillion For The US Election!

The 'Stand With Crypto' movement managed to collect donations worth IDR 1.4 trillion for the US election! (Photo; Doc. YellowBlock)

JAKARTA - The crypto industry in the United States has reached an important milestone in its struggle for recognition and advocacy. The Stand With Crypto movement has managed to garner support from one million supporters, an achievement that marks the growing power and influence of the crypto community in politics and public policy.

According to CryptoPotato information, on June 5, Brian Armstrong, CEO of Coinbase, announced that the movement has attracted the attention and support of one million people, a number that not only reflects the numerical power but also the potential for significant voters. Armstrong stated, "Many voters!" emphasize the importance of this voter block in today's political context.

Support for crypto in the US has increased dramatically, especially after veto threats from the White House sparked 600,000 people to join this movement. Armstrong highlighted that Crypto is not in favor of any party, and the momentum for pro-crypto policy in America has never been as strong as this. This suggests that crypto has gone beyond traditional political boundaries, and has become a bipartisan issue and has received cross-party support.

Influence Of The 'Stand With Crypto' Alliance

The Stand With Crypto Alliance, launched by Coinbase in August 2023, has become a driving force in crypto advocacy, focusing on community mobilization to engage in the legislative process. On June 5, the alliance has surpassed one million supporters, with an increasing number. In addition, the alliance has received a donation of 87 million US Dollars (approximately IDR 1.4 trillion) to fight for their goals.

Armstrong highlighted the importance of this voter block in the upcoming US presidential election in November, showing that this is a group that cannot be ignored. Disappointment of veto from the Biden administration and strong support for the Law on Innovation and Financial Technology for the 21st Century (FIT21) has boosted membership spikes and affirmed their commitment to pro-crypto policies.

Crypto Industry Political Investment

The crypto industry has invested tens of millions of dollars in this year's election to support pro-crypto candidates. Coinbase, for example, has announced a donation of 25 million US Dollars (approximately IDR 566 billion) to the Pro-Crypto Fairshake political action committee (PAC). This shows that the crypto industry is not only investing in technology and innovation but also in the future politics and policies that will form this industry.

With growing support and large donations from industry, the crypto advocacy movement in the United States shows that the future of pro-crypto policies in the country is getting brighter and stronger. This is a new era where crypto voices are not only heard but also an influential force in shaping policies and the future of the digital economy.