Multicoin Capital Donates $1M Solana to Pro-Crypto Candidate

Tushar Jain, co-founder of Multicoin Capital, has announced a major initiative to support pro-crypto candidates for the US Senate. 

Multicoin Capital has pledged to match up to $1 million in Solana donations to the Sentinel Action Fund. It is an organization focused on electing crypto-friendly senators.

1/ Today I am excited to announce that Multicoin Capital is backing the Sentinel Action Fund to help elect pro-crypto candidates to the US Senate.

Multicoin will match $1M of $SOL donations to The Sentinel Action Fund to support their efforts.

— Tushar Jain (@TusharJain_) July 5, 2024

Jain emphasized the need for more pro-crypto voices in Washington. He cited Senators Bill Hagerty and Cynthia Lummis as examples of the kind of representation the industry needs.

The Donation Will Aid the Pro-Crypto Army

The initiative aims to support several specific candidates, including Captain Sam Brown, Dave McCormick, Bernie Moreno, and Tim Sheehy. Jain argues that electing these candidates would add “four critical voices to the Pro Crypto Army” in the Senate.

While Multicoin has historically supported candidates from both major parties, this particular effort aligns with one party’s candidates.

Jain justifies this approach by describing crypto supporters as “single-issue voters” focused on advancing the industry’s interests.

The motivation behind this political engagement is clear: Multicoin believes that for the US to lead in the crypto revolution, it needs leaders willing to allow the industry to grow.

Jain stressed the importance of providing developers with regulatory clarity and mentioned fostering collaborative relationships between the industry and policymakers.

Jain stated that Multicoin is offering to match SOL donations made to the Sentinel Action Fund over the next 10 days.  

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