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Exodus Contributes $1.3 Million to Cryptocurrency Advocacy Organization Prior to U.S. Elections
Crypto wallet provider Exodus has contributed a substantial sum to the Stand With Crypto Alliance, with the objective of advancing the emerging sector among voters in the United States.
On September 24, the wallet’s team revealed their commitment of $1.3 million to the crypto advocacy organization.
The announcement indicated that the funds will assist in furthering the Alliance’s “mission of educating and mobilizing crypto voters” across the US.
Exodus is pleased to announce our $1.3 million commitment to #StandWithCrypto
This will help support their mission of educating and mobilizing crypto voters around the country. pic.twitter.com/zIgyo0bkjR— Exodus (@exodus_io) September 24, 2024
Established in 2015, Exodus is the US-based entity responsible for the multi-asset software wallet.
In August of this year, the company reported a “strong Q2 performance.”
Its revenue surged 80% year-over-year (YoY) to $22.3 million, compared to $12.4 million recorded in the second quarter of 2023.
Monthly active users reached 1.5 million in Q2 2024, up from 1.2 million in Q2 2023.
Additionally, the exchange provider’s processed volume amounted to $1.05 billion, reflecting a 78% increase from $0.59 billion in Q2 of the previous year.
However, the company also experienced a net loss of $9.6 million, in contrast to a profit of $1.9 million during the same period last year.
Meanwhile, in July 2024, Exodus introduced its Passkeys Wallet, featuring biometric or PIN login options.
Thanks for your support, Phil
While badges won’t be available at the moment, I’ll definitely pass along the suggestion to the team. We love hearing ideas
-GR
— Exodus (@exodus_io) September 24, 2024
While badges won’t be available at the moment, I’ll definitely pass along the suggestion to the team. We love hearing ideas You might also like Wall Street Funnels Cash Into Harris Campaign as Musk and Crypto Industry Rally Behind Trump
$180.7M Donated to Crypto Advocates
The Stand With Crypto Alliance, a 501(c)(4) nonprofit, was established on August 14, 2023, by Coinbase’s Chief Policy Officer Faryar Shirzad.
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Partners include Coinbase, Kraken, OpenSea, Paradigm, Gemini, Hedera, Anchorage Digital, among others.
This organization aims “to mobilize the 52 million American crypto owners into a powerful force.”
The group’s website indicates that 22% of Democrats in the US own crypto, as do 22% of independents and 18% of Republicans.
Furthermore, according to the Federal Election Commission, as of June 30 this year, $13,690.18 was contributed directly to the Alliance.
The organization’s website claims that $180,672,293 has been donated to crypto advocates. Of this, $177.88 million was allocated to Fairshake, a pro-crypto Super PAC, while $2.79 million was directed to the Stand With Crypto Alliance.
We were built for the crypto community and we hear you.
SWC has updated our scorecard & now requires additional clarity from candidates up & down the ballot in order to qualify for a letter grade.
View all our scores at: https://t.co/s61lprzIT1— Stand With Crypto
(@standwithcrypto) September 25, 2024
(@standwithcrypto) September 25, 2024The website also features a list of politicians categorized by their level of support for the crypto sector.
This list includes notable figures in the field, such as Cynthia Lummis, who is rated as “strongly supportive.”
Significantly, a larger number of listed politicians are pro-crypto compared to those against it. However, the majority are rated as “N/A, no stance/pending.”
While former President Donald Trump and his running mate JD Vance are “strongly supportive” of crypto, Vice President Kamala Harris and potential future Vice President Tim Walz are rated as “N/A.”
Harris recently stated that, as President, she would “encourage innovative technologies like AI and digital assets while protecting our consumers and investors.”
Source: standwithcrypto.org
Moreover, the Stand With Crypto website lists 21 endorsed candidates for the House and Senate: 10 Democrats and 11 Republicans.
Note: The rankings and endorsements focus solely on the crypto positions of specific candidates and do not consider any other pertinent issues. Ensure to conduct your own research.
You might also like Second Annual Stand With Crypto Day to Take Place in D.C. This Month
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