MoonPay Backs ‘Stand With Crypto’ Group with a Donation

MoonPay throws weight behind ‘Stand With Crypto’ with a donation.

Astronaut bringing a massive coin to a digital moon land.
Created by Kornelija Poderskytė from DailyCoin
  • MoonPay has donated to a crypto advocacy group.
  • The company said the donation was on behalf of everyone on its team.
  • The donation comes a few days after the advocacy group created a new political committee.

Web3 infrastructure firm MoonPay announced on Monday that it has donated to the Coinbase-led digital assets advocacy group Stand With Crypto.

MoonPay’s donation comes after the advocacy group formed a new Political Action Committee (PAC) on May 10. The PAC aims to raise money from over 400,000 members to support crypto-friendly candidates in U.S. elections.

“In Solidarity with Stand With Crypto”

On March 13, MoonPay CEO Ivan Soto-Wright shared a note with his team members, informing them that the company had “made a donation on behalf of everyone” to Stand With Crypto.

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The CEO emphasized the importance of the upcoming U.S. elections to the crypto industry, noting that MoonPay is supporting like-minded elected officials in creating a clear regulatory framework that fosters crypto innovation and consumer protection.

“Today, two things are abundantly clear: this year's election will define the future of our industry in the United States; and, it is our responsibility to step up and stand alongside those organizations that genuinely wish to positively advance this innovation for everyone,” Ivan wrote.

While MoonPay CEO’s note to employees did not specify how much was donated, Fox Business Journalist Eleanor Terret claimed that the donation amounted to $1 million.

In the meantime, the Coinbase-led initiative has recruited 479,975 advocates and 165,330 policymaker contacts to fight to keep crypto in the U.S. According to the group’s website, Stand With Crypto advocates have donated over $86 million so far.

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Read why Coinbase wants pro-crypto officials to end SEC’s sting:
Coinbase Boss Wants Pro-Crypto Officials to End SEC Sting

Stay updated on why the SEC served Robinhood’s crypto unit with a Wells Notice:
U.S. SEC Serves Robinhood Crypto with Wells Notice

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

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Brian Danga

Brian Danga, a Kenyan crypto reporter, is dedicated to delivering breaking news and updates from the cryptocurrency world. With a background as a Web3 writer and project manager, he recognizes the importance of unbiased reporting. Holding an LLB degree from the University of Nairobi, Brian's analytical skills contribute to his accurate news reporting. His personal interests include cooking, watching documentaries, reading, and engaging in intellectual discussions.