Coin Realm reports:
In a bid to bolster support for US politicians friendly to cryptocurrencies, crypto investment firm Multicoin Capital announced a matching donation campaign to the Sentinel Action Fund on Friday.
Multicoin Capital’s managing partner Kyle Samani revealed the initiative in a detailed tweet, underscoring the importance of political engagement in shaping the future of cryptocurrency regulation.
The campaign will last for 10 days, during which Multicoin Capital will match all donations made in Solana (SOL) tokens to the Sentinel Action Fund, up to a total of one million dollars.
“We do this because we realize the importance of political involvement, starting with supporting candidates who believe the US needs to maintain freedom of innovation,” said Samani.
The Sentinel Action Fund is a political action committee focused on electing US Senate candidates friendly to cryptocurrencies. Under the leadership of Jessica Anderson, the committee supports conservative candidates who advocate for responsible cryptocurrency innovation in the US.
Samani highlighted the support of Senator Bill Hagerty, a notable advocate for cryptocurrency innovation.
According to Samani’s tweets, Hagerty stated, “Without the effort (to vote), we cannot win. The Sentinel Action Fund is actually laying the groundwork for a cryptocurrency-supportive Senate—they are on the ground in swing states increasing the voting rate for cryptocurrency candidates.”
This initiative comes at a critical moment for the cryptocurrency industry, with Samani claiming, “It’s clear that the future of our industry is at stake, and we need to make every effort to elect candidates who support cryptocurrencies and bring forth sensible legislation.”
To facilitate donations, Multicoin Capital collaborated with Dialect, using the recently added Solana network feature to implement a donation ‘blink’ system, allowing Twitter users to donate directly using Backpack wallets, with Phantom wallet support anticipated in the near future.
“When you donate on Twitter, Blink will provide all the information required for FEC compliance,” explained Samani.
The matching campaign aims to amplify the impact of individual contributions.
“If you donate in SOL during this period, we will double the impact of your donation through our match,” Samani stated, directing potential donors to the Sentinel website. He also expressed gratitude to the Solana community for rapidly developing the technology to support the initiative.
“This was impossible three days ago, but several contributors in the team worked day and night,” he noted.
