Crypto wallet provider Exodus has announced a sizeable donation to the Stand With Crypto Alliance in an effort to garner more political support for the industry from American voters.
On Sept. 24, Exodus, the firm founded in 2015 behind the popular crypto wallet, announced its $1.3 million donation to The Stand with Crypto political action committee 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 that there are 52 million American crypto owners, which it strives to empower through education and political awareness in the lead-up to the US presidential election on Nov. 5, which is just 40 days away.
The nonprofit organization also claims to have accrued $180 million in donations from 1.49 million crypto advocates, according to its website. However, the Federal Election Commission reports that just $13,690 had gone directly to the PAC as of June 30.
The organization also focuses on advocating for crypto regulations, such as the passage of the “Financial Innovation and Technology for the 21st Century Act” (FIT21), which is heavily supported by the Republicans.
The Alliance, which was formed in May 2023 by Coinbase, has a database of over 1,000 politicians, grading them by letter on their level of support or disdain for the crypto industry.
It updated 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 could be a key element in determining the outcome of the November election. Former Joe Biden campaigner John Anzalone said that crypto “could be a really important swing universe” in August“
“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, Democrat Kamala Harris and Republican Donald Trump, couldn’t be closer.
According to crypto prediction platform Polymarket, Harris has a slim lead of 50% to Trump’s 48%.
Trump has repeatedly advocated his support for the crypto industry, even buying burgers using Bitcoin at a New York bar on Sept. 18.
Meanwhile, Harris has only recently suggested that she would support innovation and introduce clear regulations for digital assets.
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