Exodus donates $1.3M to Stand With Crypto

With just six weeks left until Election Day, Exodus, a popular crypto wallet provider, has donated $1.3 million to Stand With Crypto, a bipartisan advocacy group supporting pro-crypto candidates in the U.S. elections. The contribution was first reported by Fox Business and is aimed at scaling efforts to educate and mobilize crypto voters nationwide, highlighting the growing influence of the cryptocurrency sector in politics.

• Exodus’ CEO JP Richardson said, “At Exodus, we’ve always believed that the future of finance lies in decentralization and individual empowerment… Together, we’re making strides toward a future where crypto and blockchain technology are fostered and developed right here in the U.S.”
• Stand With Crypto, partnered with major industry players like Coinbase and Kraken, has raised $2.79 million in donations, separate from the $177 million raised by crypto super PAC Fairshake.

The crypto industry has intensified its political push this election cycle, with crypto-related donations surpassing $180 million. Stand With Crypto aims to influence key congressional races and, possibly, the presidential election. The pro-crypto lobby’s involvement signals an attempt to reshape the regulatory environment in favor of digital assets.

Fairshake PAC has also pledged to spend $25 million in support of 18 congressional candidates, aiming to influence campaigns across several states, including Alaska, California, and New York. This influx of crypto money is reshaping political power, boosting the influence of pro-crypto lawmakers and bolstering the push for favorable crypto regulations, as seen earlier with the passage of the FIT21 bill.