Stand With Crypto Launches PAC to Support Pro-Crypto Candidates

Political Action by Crypto Supporters

Stand With Crypto, a burgeoning community of cryptocurrency advocates, has launched its own political action committee (PAC), aiming to support congressional candidates sympathetic to crypto advancements. According to Chief Strategist Nick Carr, the group's political foray will commence with endorsements for proponents of blockchain and crypto in the U.S. House of Representatives and Senate.

Building a Political War Chest

The newly formed PAC is an 'associated PAC', funded by member contributions capped at $5,000 each, awaiting the augmentation of its funds to enable direct candidate donations in the upcoming primary elections and November's general election. Stand With Crypto, although a relative newcomer having started in August 2023, has quickly amassed support with over 443,000 individuals and raised significant funds for advocacy beyond the PAC's scope.

Direct Support in the Crypto Arena

Distinct from other crypto-related political finance operations, Stand With Crypto's PAC will offer direct monetary support to candidates. This approach contrasts with others in the field that offer unlimited indirect support. Transparency is also key, with donors to the PAC required to publicly disclose their identity. The committee's commitment is towards candidates with a deep understanding and support for crypto and blockchain, as demonstrated by their endorsement of candidates across the political spectrum.