Multicoin Capital Pledges $1M to Support Pro-Crypto Senate Candidates

Multicoin Capital, a leading U.S. investment firm focused on cryptocurrency, has announced a pledge of up to $1 million to support Senate candidates with favorable views on the crypto industry.

Multicoin Capital, a major U.S. investment firm focused on cryptocurrency, has announced a pledge of up to $1 million to support Senate candidates who are viewed favorably by the crypto industry.

The firm plans to back four Republican candidates—Sam Brown in Nevada, David McCormick in Pennsylvania, Bernie Moreno in Ohio, and Tim Sheehy in Montana—through donations to the conservative super political action committee (PAC) Sentinel Action Fund.

Multicoin’s support will hinge on the performance of Sentinel's crypto donation drive. As per Sentinel's website, Multicoin will match 100% of Solana (SOL) token donations made to the PAC by July 14. Gemini is hosting the group's crypto donations portal, accepting a range of tokens including SOL.

“We're doing this because we realize that political engagement matters, and it starts with supporting the candidates who believe America needs to remain free for innovation,” said Multicoin Managing Partner Kyle Samani.

Multicoin Capital, along with its leaders Kyle Samani and Tushar Jain, has previously supported pro-crypto candidates from both parties. Despite donating to Sentinel, a conservative group, Multicoin identified Sentinel as aligned with its crypto interests because of the specific candidates it is backing this cycle.

All four Republican candidates supported by Sentinel have received “A” ratings from the Coinbase-led crypto advocacy group Stand With Crypto. Among the opponents of these candidates, only three out of four are rated as “neutral” or better by Stand With Crypto. However, Ohio Senator Sherrod Brown has an “F” rating, largely due to his strong opposition to the crypto industry.

Multicoin's support for these races is also a strategic move to help flip the Senate to Republican control. This shift could alter the balance of power in agency appointments and other key areas where crypto companies intersect with the federal government, such as the courts.

The matching pledge also serves as a high-profile test of Dialect's newly launched “Blink” technology. This technology enables X users to perform on-chain Solana transactions through their social media posts. Blink will allow Solana users to donate to Sentinel via X and automatically prompt donors to complete the necessary Federal Election Commission documentation.

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