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- 1 The initiative named, “Stand With Crypto” strives to bring people on the same page regarding matters of cryptocurrency.
- 2 The initiative launched in August has generated $2 Million in donations so far.
- 3 Coinbase is one of the leading contributors to the initiative.
Cryptocurrencies have existed for more than a decade now and it ensured their adoption across the globe. The user base grew tremendously and resulted in the accumulation of a significant market cap. These assets made it to the mainstream discussions but there has been a difference of opinions between lawmakers and general users. ‘Stand With Crypto’ like initiatives are making efforts to fill this gap and getting support from common people.
The non-profit group, which includes amateur advocates who favor crypto assets, was launched in August this year. It has seen hundreds of thousands of people coming forward to support the initiative. About 80,000 people reportedly donated funds to the organization and it collected about $2 Million through it.
Chief Strategist Nic Carter asserted that the collected funds will be channeled towards enhancing the ‘Stand With Crypto’ website. For instance, they plan to add artificial intelligence features to aid with outreach to lawmakers and information portals. This will help in better collection and synthesizing of crucial data related to United States lawmakers’ stance on crypto.
In addition, the organization also plans to conduct in-person events to accumulate more accurate and clear information.
The initiative’s focus is to unite and make the crypto community closer on the ground level. It intends to set itself as a ‘one-stop-shop’ for crypto advocacy. To gather the information, the platform went through more than 1,600 calls and emails sent to Congress members, according to Carter.
An Approach to Bridge the Gap
Lawmakers and government agencies are skeptical of security with digital assets and seek their regulation to ensure safeguarding investors. However, crypto advocates doubt the intentions and ask for clarity.
The cohort of crypto proponent lawyers came forward with the idea of bringing U.S. lawmakers’ stance on digital assets. People can find the opinions of Congress members on the website.
The initiative looks to contribute to the crypto community by bringing those opinions to people who matter. This can help them better judge the possible developments in the sectors. It can even potentially be a decisive factor during elections.
Participants in the race of upcoming presidential elections were seen to be vocal about their stance on crypto, even if it was in support or completely against it.
Coinbase’s Active Participation Continues
Stand With Crypto claims to be a non-profit organization working for clarity on lawmakers’ vision of digital assets. It managed to receive funding and continued support from cryptocurrency exchange, Coinbase.
Out of recently received $2 Million in funding, Coinbase CEO Brian Armstrong gave about half of it, Carter told.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
