Money from cryptocurrency advocates could play a role in the 2024 election cycle, so why does the Stand With Crypto PAC seem to be obfuscating its numbers?
Coinbase’s Stand With Crypto project in May revealed it had launched a political action committee (PAC) to support candidates running in the 2024 United States elections.
Roughly two months later, the website stated on its landing page that roughly $179 million was “donated by crypto advocates.” However, most of these funds did not go toward the PAC at all.
According to US Federal Election Commission (FEC) filings, the Stand With Crypto PAC received just over $13,690 in contributions from April 1 to June 30. These contributions came from just seven individuals, many directly connected to Coinbase, including chief policy officer Faryar Shirzad and head of US policy Kara Calvert.
