One of the leading cryptocurrency investment companies in the United States, Multicoin Capital, has announced a significant step in supporting politicians advocating for the development of cryptocurrencies. The company plans to allocate up to 1 million US dollars in SOL to support four Republican candidates who actively defend the interests of the crypto industry in the Senate.
Supported Republican Candidates:
As part of this initiative, the following candidates will receive funding: Sam Brown from Nevada, David McCormick from Pennsylvania, Bernie Moreno from Ohio, and Tim Sheehy from Montana. All funds will be transferred through the Sentinel Action Fund, and the transactions will be carried out by the Gemini cryptocurrency exchange.
Kyle Samani, managing partner at Multicoin Capital, explained that their decision is driven by the understanding of the importance of political participation for the future of the crypto industry. «We are confident that supporting candidates who believe in the necessity of keeping America as a country open for innovation is crucial,» he noted.
This initiative is not the only example of active political support from the crypto industry. In June, the Winklevoss brothers, founders of the Gemini exchange, donated around 2 million dollars worth of bitcoin to support Donald Trump’s campaign for the US presidency. Additionally, Kraken founder Jesse Powell provided financial assistance to Trump by transferring 1 million dollars to his campaign account.
Such actions highlight the growing influence of the cryptocurrency sector on the political arena and demonstrate how investment companies seek to influence the formation of policies conducive to the development of their industry.
