Investments will strengthen group’s position as the leading industry advocate
WASHINGTON, DC (November 18, 2021) – The Blockchain Association announced it received more than $4 million in new investments from top cryptocurrency companies. This significant injection of capital, in addition to recent staff hires and membership growth, will cement the group’s position as the leading voice for crypto in Washington at a time when policymakers weigh new regulations on the industry.
Donations from three crypto industry stakeholders make up the $4 million total donation: $1 million coming from Digital Currency Group, $1 million from Kraken, and $2 million from the Filecoin Foundation. Filecoin Foundation has also pledged an additional $2 million as a match once the Blockchain Association raises the amount in outside funding.
Kristin Smith, Executive Director of the Blockchain Association, said: “More than ever before, the crypto industry needs a strong presence in Washington to ensure policymakers create commonsense regulations that support innovation, rather than stifle it. With these new investments from our members, the Blockchain Association will continue expanding our team of experts and deepening our relationships on Capitol Hill and the administration. We are very grateful to those who continue to support our mission, and we look forward to working together to build a better future with crypto.”