Stand With Crypto Sets Up Election War Chest, Backs Candidates Seeking Open Seats

The fast-growing organization of cryptocurrency supporters, Stand With Crypto, is getting into campaign financing with the opening of its own political action committee (PAC) that will make direct donations to endorsed congressional candidates, said Chief Strategist Nick Carr. Its opening slate of endorsements will feature five candidates seeking open seats in the U.S. House of Representatives and Senate, though the money will have to wait. Stand With Crypto’s effort is an “associated PAC,” meaning it’s supported by the nonprofit group’s own members, and each of them will be limited to $5,000 contributions. Once they start adding cash to the PAC coffers, then the committee can start making direct donations to candidates as they face the latter months of the primaries and the big contest of November’s general election, the group announced Friday.