Multicoin Capital, a cryptocurrency and blockchain investment firm, is donating up to $1 million to support Republican lawmakers who support cryptocurrencies.
The company said it will match up to $1 million for every SOL donated over the next 10 days through The Sentinel Action Fund, a conservative, ultra-political action committee. The donation process is being powered by cryptocurrency exchange Gemini, according to the site.
“We recognize and are committed to political engagement, and that starts with supporting candidates who believe America should remain free to innovate,” said Kyle Samani, Managing Partner at MultiCoin Capital. post On Friday X. “By donating, we @SentinelAction Tools to increase the number of pro-cryptocurrency senators @Bill HagertyTN — Innovators who understand and speak our language.”
Senator Bill Hagerty, a Tennessee Republican who sits on the Senate Banking Committee, introduced several bills last year to regulate cryptocurrencies, including one that would provide exchanges with a safe haven from some enforcement actions by the Securities and Exchange Commission.
Over the past few months, other crypto industry figures have also donated to candidates: Cameron and Tyler Winklevoss Donated Last month, former President Donald Trump was given $2 million worth of Bitcoin, while Kraken founder Jesse Powell Donated $1 million to Trump. Millions of dollars flowed to other PACs, including super PACs. Fair shake.
Cryptocurrency has emerged as a major issue since Trump won the presidential election this year. accept Donate your campaign contribution in cryptocurrency to my re-election campaign and pledge to: Protect Self-custody. Meanwhile, the Biden campaign has begun. Cheongha As previously reported by The Block, it provides guidance to cryptocurrency industry participants on the cryptocurrency community and policy decisions.
The Sentinel Action Fund is supporting Nevada Senate candidate Sam Brown, Pennsylvania Senator Dave McCormick, Ohio Senator Bernie Moreno, and Montana Senator Tim Sheehy, according to the site. Moreno, in particular, is challenging Ohio Senate Banking Committee Chairman Sherrod Brown, who is critical of cryptocurrencies.
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