Republican

America

Solana

Multicoin

Partner

Multicoin Capital, a crypto and blockchain investment firm promises to donate over $1 Million to support crypto-friendly Republican lawmakers. The firm is all set to shape the U. S. legislation towards a more crypto-friendly stance and will match every Solana (SOL) donated over the next 10 days. 
At press time, SOL was trading at $139.24, after a spike of 7.35% in a day with a market cap of $64,472,848,775 and $2,839,175,104 in 24-hour volume. Within a day, the coin surged from $129.82 on July 5 to $140.41 on July 6.&nbsp;&nbsp;
On July 5, Kyle Samani, the Managing Partner at Multicoin Capital announced X to support the pro-crypto senators.&nbsp;
<img src="https://lh7-us.googleusercontent.com/docsz/AD_4nXeDfekDFmCfElKIJwo1X7CPIF4SpMOdpNIExSguQqyvKeRZMJCC54xeXYWv3e4SiLWh_xyx1Tkca38uqyIKF4_sIF34WgVomqPP4BLqmfT-cZGJ0blCDOdzQ-3YzykVUxO0JW5RtcElzkm283YgrWxbJIoM?key=VFQCzA4t3W7X6V30s1w4Ug" width="475" height="230">
Source: X
"Our industry’s future is at stake, and we need to do everything in our power to elect pro-crypto candidates that will see sensible legislation brought to the floor", Samani added.&nbsp;&nbsp;
With the support of The Sentinel Action Fund, a political action committee, Multicoin Capital will support and elect crypto-friendly candidates to the U.S. Senate.&nbsp; &nbsp;
While clarifying his intent, Samani also said that political engagement matters in every field and to become free for innovation, America needs candidates supporting innovation and cryptocurrency. The Managing Partner at Multicoin Capital also encouraged the community to donate and promised to double the impact of the contribution by July 14.&nbsp;
In the end, Samani appreciated the <a href="https://www.coingabbar.com/en/crypto-currency-news/spot-solana-etfs-rise-future-outlook" title="SOL" class="f-link" rel="noopener noreferrer nofollow">SOL</a> community and alarmed the donors to stay away from irrelevant links while donating.&nbsp;
<h3 id="span-span-data-font-font-size-style-font-size-16px-multicoin-capital-s-other-moves-in-crypto-space-span-span">Multicoin Capital’s Other Moves in Crypto Space</h3>
Being a crypto and blockchain investment firm, Multicoin Capital is actively involved in funding rounds to enhance the effectiveness of the cryptocurrency industry. Recently in June, the company led an $8 Million Series A round for Mountain Protocol. The funding round also involved other investor participants like Castle Island Ventures, Coinbase Ventures, etc.&nbsp;
Furthermore, the investment firm also made investments in the Colombia-based <a href="https://www.coingabbar.com/en/crypto-currency-news/micas-role-in-boosting-eur-stablecoins-adoption" title="stablecoin" class="f-link" rel="noopener noreferrer nofollow">stablecoin</a> protocol El Dorado. Multicoin Capital completed a $3 Million seed venture capital investment round and involved crypto exchange Coinbase's venture capital arm Coinbase Ventures, UC Berkeley Skydeck, and Awesome People Ventures.&nbsp;&nbsp;
<h4>Conclusion&nbsp;</h4>
Multicoin Capital's commitment of over $1 Million to support crypto-friendly Republican lawmakers signifies a strategic move to influence U.S. legislation in favor of the cryptocurrency industry. The firm's initiative, coupled with a matching donation campaign for SOL contributions, underscores its dedication to fostering a legislative environment conducive to crypto innovation. This effort is complemented by Multicoin Capital's active investment in blockchain ventures, further cementing its role as a pivotal player in the cryptocurrency space.
Also Read:&nbsp;<a href="https://www.coingabbar.com/en/crypto-currency-news/argo-blockchain-bitcoin-mining-june-update" title="Argo Blockchain Shared June’s Bitcoin Mining Update; What’s New?" class="f-link" rel="noopener noreferrer nofollow">Argo Blockchain Shared June’s Bitcoin Mining Update;&nbsp;</a>&nbsp;

Multicoin Capital Donates 1M to back Conservative Solana Champions

Table of Contents

Coingabbar

Other articles published on Jul 6, 2024

Price Analysis: Mantle (MNT) Price Decreased More Than 7% Within 24 Hours

Government Bitcoin Sell-Off Won’t Shake Crypto Market Say CryptoQuant’s CEO

Bitcoin Spot ETFs See Significant Inflows Amid Market Rebound

Crypto Market Analysis: Bitcoin, Ethereum, and Altcoins Show Gains!

After 40% Rise, LayerZero Aims at Another 25% Jump: Will ZRO Price Reach $5 This Weekend?

MoonBag Achieves Top Crypto Presale In 2024 Position While VeChain and Kangamoon Struggle For Bet...

Join our free newsletter for daily crypto updates!