The Stand with Crypto Alliance is an advocacy organization dedicated to getting the cryptocurrency community involved in the legislative process in the United States. The organization is supported by Coinbase, the largest cryptocurrency exchange. ^[2]

Overview

Launched on August 14, 2023, by Faryar Shirzad, Coinbase's Chief Policy Officer, the alliance leverages blockchain technology to empower the decentralized crypto community, facilitating their active participation in advocating for progressive policies that modernize the financial system and promote economic empowerment. With the ultimate goal of fostering communication between the crypto community and regulators, the alliance serves as a unified voice to influence legislative decisions and protect consumer rights while fostering innovation. This initiative expands upon Coinbase's prior campaign, Crypto435, which laid the foundation for organizing the crypto community around legislative matters. ^[1][3][4]

People are able to show support by minting a Stand with Crypto Supporter NFT, and all supporters are able to submit 1 minute videos explaining why they believe crypto is important to win prizes. The alliance shares NFT rewards, educational resources, and updates on crypto policy with its members. In under a week, over 57,000 people joined the organization as crypto advocates. The inaugural Stand with Crypto shield was minted over 160,000 times – raising $215,000 for crypto advocacy organizations. ^[1][2]

History

On March 1, 2023, Coinbase unveiled "Crypto435," a pro-crypto policy campaign aimed at uniting advocates who comprehend the potential of web3 technology. This initiative seeks to bring together supporters of cryptocurrency across the 435 Congressional districts in the United States. The campaign's core mission is to amplify the voice of the crypto community within the policymaking arena, emphasizing the importance of coherent crypto regulations. Notably, Crypto435 intends to promote the advantages of blockchain technology and bolster innovation while safeguarding employment opportunities. The campaign's significance lies in its capacity to influence legislative decisions, educate about the potential of crypto, and address the evolving regulatory landscape. The community's involvement is crucial as legislators and regulators make determinations that will shape the future of crypto-related activities and transactions.

On August 14, 2023, Coinbase Chief Policy Officer, Faryar Shirzad announced the launch of Stand with Crypto Alliance in a post on the Coinbase Blog which began:

With more than 50 million Americans holding a digital asset, crypto is bigger than Coinbase. Today, with the launch of the Stand with Crypto Alliance, the crypto community will be unleashed as a core constituency in the legislative process. In particular, the Stand With Crypto Alliance will leverage the underlying technology of the blockchain to help organize the community into a powerful voice advocating for policies that will update our financial system and support economic empowerment. The Alliance is the nation’s first ever independent and onchain advocacy organization, powered by and for crypto supporters. ^[1]

As of August 19, 2023, the total amount donated by the top 10 supporters is $3,746.35.