Exodus donates $1.3m to Stand With Crypto ahead of US election

Cryptocurrency wallet provider Exodus has donated $1.3 million to Stand With Crypto, a bipartisan advocacy group focused on supporting pro-crypto candidates in the upcoming US elections.

The donation, first reported by Fox Business, comes at a critical time with just six weeks until Election Day. Stand With Crypto aims to educate and mobilize crypto voters across the country, and Exodus’ contribution will help expand those efforts.

Exodus’ website also features a banner supporting Stand With Crypto and its initiatives.

By partnering with industry giants like Coinbase, Stand With Crypto strives to influence the political climate in favor of the crypto industry.

Stand With Crypto’s website shows crypto-related donations have exceeded $180 million this election cycle, an effort that signals the industry’s growing influence and its aim to create a more favorable regulatory environment for digital assets.

Crypto and US politics

Other major crypto and political players, such as the pro-crypto political action committee Fairshake Super PAC, plan to spend $25 million to support 18 congressional candidates, split evenly between Republicans and Democrats, this election cycle.

The targeted campaigns cover more than a dozen states, including Alaska, California and New York, with Fairshake set to spend about $1 million per region.

With this influx of financial support, pro-crypto lawmakers are in a better position to push for legislation, regulations, and policies. This was seen with the passage of the FIT21 bill earlier this year.

The influx of crypto into government is changing political power dynamics and giving crypto-supporting candidates and lawmakers greater influence.