Sign Up on MEXCMulticoin Capital To Fund Crypto-Friendly US Candidates In Solana
Highlights
- Multicoin Capital is on track to Fund Sentinel PAC
- The funds will be donated up to $1 million and domiciled in Solana
- Crypto entities are gradually getting more political
Through Solana (SOL), crypto hedge fund Multicoin Capital has extended a hand of goodwill to pro-crypto Republican lawmakers in the United States.
Multicoin Capital Supports Sentinel Action Fund
Kyle Samani, a managing partner with Multicoin Capital, announced the news of the firm’s special contribution to match up with the donation of SOL to Sentinel Action Fund. The blockchain investment company is looking to donate up to $1 million over the next 10 days. Cryptocurrency exchange Gemini is charged with processing the donations.
0/ Today, Multicoin Capital is proud to announce a special contribution to match all donations of SOL tokens to the Sentinel Action Fund (@sentinelaction) up to $1M for SOL donations made over the next 10 days.
Let’s talk about the who, what, why and how.
— Integrated Kyle e/acc (@KyleSamani) July 5, 2024
Notably, the Sentinel Action Fund is a conservative super-political action committee whose focus is to sit crypto-friendly politicians in the United States Senate. The group is led by Jessica Anderson, the former executive director of Heritage Action.
Currently, the Sentinel Action Fund supports Sam Brown in Nevada, Dave McCormick in Pennsylvania, Bernie Moreno in Ohio and Tim Sheehy in Montana.
Additionally, Moreno is contesting against Sherrod Brown in Ohio. Brown is the Senate Banking Committee Chair who has remained critical to crypto, seeking the crackdown of the burgeoning sector. In his recent X post, Samani explained that Multicoin Capital is taking this step because of a realization that political engagement matters.
“….and it starts with supporting the candidates who believe America needs to remain free for innovation,” He said. “By making contributions, we’re giving @sentinelaction the tools to increase the number of pro-crypto senators like @BillHagertyTN — an innovator who understands and speaks our language.”
US Politicians Accept Bitcoin And Other Crypto Donations
Meanwhile, Senator Bill Hagerty, R-Tenn., is known for his apt crypto stance. Over time, he remains one of those pushing for crypto acceptance and regulation through the few bills that he has introduced. Explicitly, one of his bills from last year was focused on saving crypto exchanges like Binance, Coinbase and Kraken from the claws of the U.S. Securities and Exchange Commission (SEC).
Apart from candidates for the Senate position, other top politicians have also been receiving donations and contributions via digital assets. Presidential candidate Donald Trump opened a campaign for crypto donations in May. From that time till now, he has received millions of dollars in cryptocurrencies. He has received crypto donations from the likes of Winklevoss brothers and even Kraken exchange.
Similarly, President Joe Biden followed suit with a crypto campaign but he received severe backlash for accepting Bitcoin and other crypto donations. Though there has not been full acceptance of crypto in the government house, the advent of crypto donations suggest that the wait may soon be over.
Read More: Bitcoin Price To Crash $42,000? Here’s What To Watch Out For
- Grayscale’s XRP, SOL, ADA Fund To Begin Trading Tomorrow Following SEC’s Greenlight
- Donald Trump Petitions Supreme Court To Remove Fed Governor Lisa Cook
- Pi Coin Rises As Pi Network Implements Protocol v23 on Testnet
- Tether-Backed Plasma Stablecoin Blockchain Set to Launch on September 25
- Cathie Wood’s Ark Invest Backs Nasdaq-Listed Solmate To Launch $300M Solana Treasury
- Cardano Price Stays Above Ichimoku Cloud as Grayscale ADA ETF Approval Nears
- HBAR Price Prediction as SEC Approves Generic ETF Framework – Analyst Targets $1.80
- Toshi Coin Gains 57% in One Day: What’s Driving the Sudden Upside?
- Shiba Inu Price Set to Soar as Exchange Reserves Dive Amid SHIB ETF Chatter
- Pepe Coin Price Prediction as Whale Moves $25M From Robinhood- Is a Breakout to $0.00002 Next?
- XRP Price Prediction as Market Longs Hit 78% amid VivoPower Treasury Expansion Launch — Is $4 Next?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
