With 1 million members declared by the political action committee (PAC), the bitcoin sector marks a major turning point. Coming just 10 months after the group’s founding, this success highlights the growing political might of the crypto movement as it works to change US regulations.
Crypto Community Gains Momentum
ONE MILLION STAND WITH CRYPTO
Today, we are proud to share that the Stand With Crypto movement has reached 1M sign-ups! This is an achievement for all of us to celebrate, and it was made possible by every single advocate who raised their voice to engage in the political process.… pic.twitter.com/GXoxKMTmpB
— Stand With Crypto🛡️ (@standwithcrypto) June 5, 2024
Brian Armstrong, CEO of Coinbase and another ardent group backer, underlined the importance of the milestone. Having a million fans, he underlined, gives them a great voting bloc capable of influencing public policy. Support of crypto-friendly policies is stronger than it has ever been in the United States.
Brian Armstrong, CEO of Coinbase and another ardent group backer, underlined the importance of the milestone. Having a million fans, he underlined, gives them a great voting bloc capable of influencing public policy. Support of crypto-friendly policies is stronger than it has ever been in the United States.
Armstrong attributed some of the recent political upheavals—including the divisive SEC veto decision by President Biden that has spurred the bitcoin community—for the rise in support.
The growing impact of the crypto community is showing up as the 2024 elections draw near. Starting to match their policies with the needs of this expanding voter base, presidential aspirants are
Cryptocurrency And Politics’ Evolving Landscape
Leading this trend is Donald Trump, who promised publically to create a friendly atmosphere for cryptocurrencies in the US. At a recent campaign rally, Trump said he only had positive comments regarding crypto firms and everything connected to this fast growing sector.
Chief strategist for Stand with Crypto Nick Carr underlined the need of attaining the one million threshold. According to Carr, this landmark reflects the collective voice of the crypto community gathering for improved legislative climate.
Today we hit 1M Stand With Crypto advocates after launching 10 months ago.
Grassroots organizations can take years to reach this point, and we achieved it in months, highlighting the power of the collective crypto community.
This achievement would not be possible without the… https://t.co/YW3kuNXhOr
— Nick Carr 🛡️ (@ThisIsNickCarr) June 5, 2024
Even US President Joe Biden, a staunch supporter of regulating cryptocurrencies, seems to be having second thoughts. Mark Cuban and Charles Hoskinson are among the prominent industry insiders who have asserted that Biden’s stance against cryptocurrency might potentially endanger his chances of being re-elected.
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The fast expansion of Stand with Crypto and the evolving political leaders’ opinions point to a bright future for the crypto sector. The forthcoming elections could prove crucial in deciding the future legislative climate for digital assets in the United States as the community keeps acquiring political weight.
Featured image from Shutterstock, chart from TradingView