Stand With Crypto PAC launches to back pro-crypto politicians

A
new
political
action
committee
named
Stand
With
Crypto
has
been
launched
to
rally
financial
support
for
crypto-friendly
politicians.

With
a
membership
base
of
over
440,000,
the
organization

unveiled
its
bipartisan
endorsements
for
candidates
running
in
the
House
of
Representatives
and
Senate,
signifying
a
united
effort
to
advocate
for
the

cryptocurrency
and
blockchain
industry.

According
to
Federal
Election
Commission
data,
the
political
action
committee
(PAC)
joins
the
broader
effort
of
crypto
super
PACs
such
as
Fairshake,
Defend
American
Jobs,
and
Protect
Progress,
collectively
raising
over
$110
million
in
this
election
cycle.

The
PACs
aim
to
bolster
candidates
who
support
crypto
amid
heightened
scrutiny
after

FTX
founder

Sam
Bankman-Fried
was
found

guilty
of
defrauding
customers
and
channeling
over
$100
million
to
U.S.
political
campaigns.

Nick
Carr,
chief
strategist
at

Stand
With
Crypto,
emphasized
that
the
goal
is
to
“endorse
candidates
and
support
candidates
that
are
protecting
the
rights
of
our
advocates
of
Stand
With
Crypto
throughout
November.”

Endorsements
include
Jim
Banks,
a
Republican
seeking
a
Senate
seat
in
Indiana;
Jim
Justice,
a
Republican
aiming
for
Senate
in
West
Virginia;
Shomari
Figures,
a
Democrat
vying
for
Alabama’s
Second
District;
Eddy
Morales,
a
Democrat
contending
for
Oregon’s
Third
District;
and
Troy
Downing,
a
Republican
seeking
to
represent
Montana’s
Second
District.

With
increasing
political
involvement,
the
crypto
industry
seeks
to
shape
its
regulatory
environment
by
ensuring
supportive
candidates
gain
political
traction.