The US based crowdfunding startup, Crowdpac said that candidates and campaigns that use its streamlined political platform will now be permitted to accept donations in cryptocurrency.
The donation is liquidated and funds are passed on to the campaign via direct deposit or check.
Crowdpac, the innovative fundraising and social media platform for donors, volunteers, and voters, smoothens up the donation procedure and makes sure that campaigns using Crowdpac, including those that accept crypto, are in complete abidance with Federal Election Commission’s rules and regulations.
“Donors on Crowdpac understand the power of tech and want it to be used to support the politicians and issues they care about. By accepting crypto, Crowdpac is helping its members innovate and break free from big partisan processors that favor the entrenched status quo and do not accept these innovative payment methods” said Crowdpac’s Christopher Tavlarides.
According to Crowdpac it has four million regular users and 360,000 active donors. Sixty-five percent of the candidates engaging with Crowdpac are minorities and women. Crowdpac claims that they are working towards making it simple for grassroot candidates traditionally left out of the political process to compete and win.
Crypto donations have become a trend and they are getting more recognition in all fields and many political parties and politicians are adopting crypto donations in order to further strengthen their win.
Fairly recently, the co-CEO of FTX Digital Markets, Ryan Salame donated $4 million into his latest launch American Dream Federal Action PAC.
“More Americans than ever—at least one in five—are now using cryptocurrency. We want them to know that they can and should put crypto to work to amplify their voices” added Tavlarides.
