The CEO of Coinbase has given a generous donation of $25 million to eliminate politicians in Congress who oppose cryptocurrency.

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Former chairman of the Commodity Futures Trading Commission, Chris Giancarlo, discusses former President Trump’s statement that he would support cryptocurrency if elected on ‘The Claman Countdown.’

As the 2024 U.S. elections approach, major crypto firms are backing candidates who are pro-crypto and could help the $2 trillion digital asset industry achieve regulatory clarity.

On Monday, Coinbase, the largest crypto exchange in the U.S., announced that they donated $25 million to the pro-crypto super PAC Fairshake, matching recent contributions from Ripple and Andreessen Horowitz. This brings Fairshake’s funding to $160 million, placing it among the top five largest super PACs for this election cycle.

Coinbase CEO, Brian Armstrong, stated in a blog post that the best way for democratic countries to achieve regulatory clarity is by electing pro-crypto candidates and voting out those who are against it. He emphasized that crypto is a bipartisan issue that affects people from all political parties.

Coinbase has been actively advocating for fair crypto policies in Washington D.C. and has raised over $87 million through its own political action committee. The non-profit advocacy group Stand with Crypto, started by Coinbase, has also gained nearly 950,000 supporters and published a database of politicians with scores based on their views on crypto.

The group has seen success with the passing of the Financial Innovation and Technology Act, a bill that establishes a regulatory framework for digital assets, and credits their lobbying efforts for the support of 71 Democrats who voted in favor of the bill.

Armstrong stresses the importance of supporting pro-crypto candidates on both sides of the aisle and voting out those who are against it in order to be taken seriously as crypto voters. He encourages the crypto community to send a clear message to candidates that being anti-crypto is bad politics.