Exodus donates $1.3M to crypto advocacy group to aid Election Day voting efforts
Galaxy Digital CEO Michael Novogratz discusses the presidential candidates about cryptocurrency after it was not mentioned during the Trump-Harris debate on ‘The Claman Countdown.’
With only six weeks to go until Election Day, the US cryptocurrency industry continues to spend heavily to ensure that pro-crypto representatives are elected to Congress in November.
FOX Business has learned that Exodus, a popular crypto wallet provider, has donated $1.3 million to the bipartisan advocacy group Stand With Crypto, adding to the growing war chest of nearly $190 million the industry has donated to political committees and and candidates in this election cycle. .
According to Stand With Crypto executives, Exodus’ donation will enhance its public relations efforts to educate and mobilize crypto voters across the country.
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“At Exodus, we’ve always believed that the future of finance lies in decentralizing and empowering individuals,” said Exodus CEO JP Richardson. “Stand With Crypto is doing serious work to ensure that this future is realized, and we are proud to contribute to their effort. Together, we are taking a step toward a future where crypto and blockchain technology is encouraged and developed right here in the US.”
Exodus is listed as a partner on the Stand With Crypto website alongside other industry giants Coinbase, Gemini, Kraken and Consensys. Exodus’ donation brings Stand and Crypto’s total donations to $2.79 million, which is separate from the $177 million donated by crypto super PAC Fairshake, according to the SWC website.
Exodus’ donation will enhance its public relations efforts to educate and engage crypto voters across the country, Stand With Crypto executives said. (Stock)
The spending cuts come as the so-called crypto voter bloc is poised to have a major impact on the outcome of several key congressional races across the country, and possibly even the race for the White House.
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According to the Federal Election Commission, Fairshake has thrown more than $23 million in ad spend on crypto candidates on both sides of the aisle, helping to secure a few primary wins along the way. Meanwhile, Stand With Crypto, a non-profit organization, uses its donations primarily to mobilize voters. Last week, the group completed a five-state tour where advocates registered 100,000 voters in Arizona, Michigan, Nevada, Pennsylvania and Wisconsin.
Stand With Crypto allows candidates, however. Its website shows a list of twenty-one pro-crypto congressional candidates, both Democrat and Republican, the organization supports with links to donate to each of their campaigns.
On Sunday, Vice President Kamala Harris spoke for the first time since becoming the Democratic presidential nominee. In his speech to Wall Street donors, Harris said his administration will “promote new technologies like AI and digital goods while protecting consumers and investors,” adding that he will also create a safer business environment with consistent and transparent traffic rules.
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Former president, Donald Trump speaks on Aug. 23, 2024, in Las Vegas, Nevada. Vice President Kamala Harris speaks on July 11, 2024, in Greensboro, North Carolina. (Ian Maule/Sean Rayford for Getty Images/Getty Images)
Pro-crypto Democrats applauded the vice president’s acknowledgment of the industry; however, his message was met with skepticism from supporters of former President Donald Trump, the leading candidate in crypto in recent months, who dismissed his comments as “too little, too late.”
Republican presidential nominee and former President Donald Trump shakes hands at the Bitcoin 2024 event in Nashville, Tennessee, on July 27, 2024. (Reuters/Kevin Wurm/File Photo/Reuters Pictures)
Trump, on the other hand, has been mining the crypto industry for votes with promises of a touch of light regulation, burning the biggest enemies of the industry – the Chairman of the Securities and Exchange Commission Gary Gensler – and making the US “the crypto capital of the world.” Last week, Trump visited a bitcoin-themed bar in New York City where he bought $1,000 worth of burgers and drinks from customers, paying in bitcoin, and became the first president, past or present, to make transactions on the bitcoin network.
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