Stand With Crypto, a non-profit movement organized by the American-based Coinbase crypto exchange to mobilize the 52 million American crypto owners to decide who leads the country in the upcoming election, has gained millions of supporters nationwide.
The group believes that cryptocurrency should be a national priority to ensure that the U.S. remains a leader in the future financial system. Despite the claimed 52 million American crypto owners, the future of Crypto in America is still uncertain.
Therefore, the movement calls on all American crypto enthusiasts to support “common sense legislation” and elected officials who will safeguard Americans’ right to use digital assets and enable the U.S. to maintain its leadership in financial services.
According to its website, the Stand With Crypto Movement has received $87,189,460 in donations from crypto advocates. It boasts 1,188,553 crypto advocates and 210,055 contacts in policymaking.
Out of the $87,189,460 donations accepted, $86 million was contributed to FairShake. This federal independent expenditure-only committee also backs candidates dedicated to securing the United States as the home to innovators building the next generation of the internet.
30,000 People in Georgia Have Joined the Stand With Crypto Movement
According to the latest report, Stand With Crypto has garnered over 30,000 supporters in Georgia alone ahead of the 2024 U.S. presidential election. The committee mentioned that just 11,779 votes determined the winner in Georgia in the last election.
The committee believes that Crypto voters will have a significant impact in 2024 and could potentially determine the next U.S. president.
Additionally, 19% of Georgians own cryptocurrency, and 52 million Americans own cryptocurrency. Furthermore, nearly nine in ten Americans believe the financial system needs an update. However, U.S. policymakers seem satisfied with maintaining the 91-year-old Securities Act of 1933.
Meanwhile, the movement has garnered intense support from common citizens, policymakers, politicians, and other crypto giants like Kraken, PAXOS, Gemini, Consensys, and many more.
SEC Decisions Potentially Risk Biden’s 2024 Election Chances
The non-profit movement came about as a response to the United States Government’s recent regulatory actions against major crypto companies. Under Joe Biden’s leadership, companies like Coinbase, Ripple, Binance, and KuCoin have faced significant regulatory pressure from the Gary Gensler-led SEC. Many lawsuits have been initiated, accusing these companies of enforcing outdated rules through sudden legal actions.
However, the situation may soon change as millions of crypto enthusiasts in the U.S. are expressing their support for pro-crypto candidates like Donald Trump. Trump has promised to promote the use of cryptocurrency and enhance Bitcoin mining to mine all remaining Bitcoin in the USA.
It’s important to note that Gary Gensler, the head of the SEC, has been a vocal critic of cryptocurrencies. During a recent speech at the Bloomberg Invest Summit on June 25, Gensler stated that all crypto industry leaders or executives are either in jail, about to go to jail, or awaiting extradition.
This statement has received strong criticism from crypto enthusiasts, with Brad Garlinghouse, the founder of Ripple, denouncing it as “absolute nonsense.” He believes Gensler’s stance will cause Biden to lose the upcoming election.
