By
Steve Muchoki
July 1st, 2024
A recent survey from Harris Polls commissioned by the crypto industry shows that a large segment of the public is watching candidates’ positions on digital assets
Stand With Crypto, an organization advocating for digital assets and supported by Coinbase, has hit the one-million-member mark. As of Wednesday, the group continues to grow its influence by pushing for sound policymaking around cryptocurrencies in the United States.
The group has rapidly become a leading force in cryptocurrency advocacy since forming last August. Stand With Crypto initiates dialogues with US politicians, rallies the public to digital-asset causes, and earlier this spring launched a political action committee through which it can directly fund political candidates.
Membership is easily accessible through a quick online signup process, allowing for anonymity if desired. As stated by Chief Strategist Nick Carr, most members have provided their physical addresses, demonstrating a strong commitment to the cause.
“One million advocates across state and political lines are sending a clear message to Washington. Crypto is a frontline issue, and we have the numbers to back it up,” Carr said.
Stand With Crypto has successfully collected millions in donations, which it plans to use to mobilize American crypto enthusiasts toward Politico outcomes in D.C. that favor digital asset technology. The group’s rapid expansion has inspired excitement at the top of the donor list as well, including Brian Armstrong, CEO of Coinbase.
“Stand With Crypto surpassed its goal of one million advocates faster than we ever imagined,” Armstrong said in a statement. “With exactly five months until the general election, crypto voters are not taking their foot off the gas.”
The crypto industry has focused on political advocacy this year as it has poured upwards of $160 million into campaign finance efforts that would match those of leading sectors and political parties.
Stand With Crypto has also funneled undisclosed support to groups like the Cedar Innovation Foundation to help push back on lawmakers like Sen. Sherrod Brown (D-Ohio), whose Senate Banking Committee has yet to move forward with any meaningful crypto legislation.
Voter Sentiment and Electoral Impact
A recent survey from Harris Polls commissioned by the crypto industry shows that a large segment of the public is watching candidates’ positions on digital assets. Of the sample, one-third said they would let candidate views on crypto shape their vote.
But other polling of swing state voters showed again that 69% may be against cryptocurrency — this time, not in the activists’ favor but a critical challenge for a hopeful mainstreaming of crypto.
Cryptocurrencies have become a major topic of debate among presidential candidates as well. Recently, former US President Donald Trump announced that his campaign would accept donations in the form of digital assets like Bitcoin (BTC), Ethereum (ETH), and other crypto assets available on Coinbase Commerce.
Trump is also a staunch critic of the creation of a central bank digital currency (CBDC) in the US, stating that he “will never allow” the creation of a digital dollar.