MoonPay Contributes to Coinbase's Stand With Crypto

Take action and support elected officials who promote innovation and consumer protection. Stand With Crypto and shape the future of crypto together.

May 13, 2024 - 16:03
May 13, 2024 - 15:45
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MoonPay Contributes to Coinbase's Stand With Crypto
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Crypto payment company MoonPay is among the early supporters of Coinbase's pro-crypto PAC for the upcoming U.S. election. MoonPay has made an undisclosed contribution to Stand With Crypto, Coinbase's non-profit crypto advocacy initiative.

On May 13, MoonPay CEO Ivan Soto-Wright announced, "This morning, we made a donation on behalf of everyone here at MoonPay to Stand With Crypto." He stressed the importance of the upcoming U.S. election in shaping the crypto industry's future and urged people to take action to promote crypto. He stated:

"In solidarity with Stand With Crypto, we are supporting elected officials to create a clear regulatory framework for crypto that fosters innovation while protecting consumers."

The contribution from MoonPay, whose specifics were disclosed anonymously to the media, comes shortly after Stand With Crypto established a political action committee (PAC) for its roughly 450,000 members to support candidates in the upcoming 2024 U.S. elections.

Stand With Crypto's chief strategist Nick Carr reportedly said, "The goal is to endorse candidates and support candidates that are protecting the rights of our advocates of Stand With Crypto throughout November.As per its website, the PAC has raised over $86 million at the time of reporting.

(Source: Stand With Crypto)

This new PAC supporting pro-crypto political candidates from Stand With Crypto comes after Coinbase launched the initiative in November 2023.