MoonPay Donates to Coinbase's Charity, Supports Pro-Crypto Candidates for 2024 U.S. Elections
Summary:
MoonPay, the cryptocurrency payment firm, has made an undisclosed donation to Coinbase's Stand With Crypto project. The donation comes as the project launches a political action committee (PAC) to support pro-crypto candidates in the 2024 U.S. elections. The PAC, aimed at protecting the rights of crypto advocates, has already raised over $86 million. The Stand With Crypto initiative was started by Coinbase in November 2023.
MoonPay, a cryptocurrency payment firm, has recently made a confidential donation to Coinbase's crypto advocacy charity, Stand With Crypto. Ivan Soto-Wright, the CEO of MoonPay, declared on May 13 that the donation was made on behalf of all MoonPay employees. Mr. Soto-Wright highlighted the critical impact of the forthcoming U.S. elections on the fate of the cryptocurrency sector in the country, emphasizing the need for individuals to take an active role in promoting crypto. He expressed his solidarity with Stand With Crypto by assisting elected officials to establish a comprehensive crypto regulatory framework that promotes innovative growth while ensuring consumer safety.
The contribution details of MoonPay, shared with Cointelegraph, come in light of Coinbase's Stand With Crypto project unveiling of its new a political action committee (PAC) formed for the purpose of enabling around 450,000 members to support contenders in the 2024 U.S. elections.
Nick Carr, the chief strategist of Stand With Crypto, is said to have hinted at the motivation behind the formation of PAC which aims to back and endorse candidates who vow to safeguard the rights of Stand With Crypto advocates throughout November. As of now, the PAC has successfully generated over $86 million, as reported on its official website.
The recent PAC initiative dedicated to supporting crypto-friendly political candidates follows the initiation of the Stand With Crypto project by Coinbase in November 2023.
This is an ongoing news story, and further updates will be added as the story unfolds.
Published At
5/13/2024 4:41:10 PM
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