Coinbase's Stand with Crypto Alliance reaches 54k signups on day one
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Yesterday, Coinbase announced its new Stand with Crypto Alliance, and according to the official website, the campaign reached 54k advocate signups on its first day, and the number keeps going up.
On August 14, Coinbase announced the beginning of its Stand With Crypto Alliance, a program designed to combat anti-crypto legislation by organizing the local community. The cryptocurrency community has shown high interest in the alliance, and over 54k advocate signups were made on the first day. The number is expected to go higher in the upcoming hours.
Cryptoslate recently reported that the number went up to 52k, but over 2k people joined the alliance after their report. As of this writing, the number is 54,340. You can check the updated advocate signup stats on this page. The website doesn't update itself in real-time, so you will need to refresh the page if you want to see if anything has changed after your initial visit.
What is Coinbase Stand with Crypto Alliance?
In order to advocate pro-crypto legislation, Coinbase established the Stand With Crypto Alliance, which is a separate NGO. This pioneering advocacy group aims to bring together the diverse crypto community around supporting legislation.
The Alliance wants to design a legal system specifically for digital assets. This is a response to the increasing legal disputes over asset classifications between cryptocurrency companies and organizations like the SEC. Clearness is required, as evidenced by victories like the Ripple verdict.
"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," said Coinbase.
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Coinbase reported that its previous "Stand with Crypto" shield NFT was issued more than 160,000 times and raised $215,000 for groups that support cryptocurrency. The company also said that more than 188,000 people signed a previous on-chain petition.
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