Base crypto donation platform launches for U.S. politicians
A novel blockchain-based donation platform has emerged, enabling United States politicians to receive cryptocurrency contributions via the Coinbase-developed Base network.… Continue reading Base crypto donation platform launches for U.S. politicians
The post Base crypto donation platform launches for U.S. politicians appeared first on ReadWrite.
A novel blockchain-based donation platform has emerged, enabling United States politicians to receive cryptocurrency contributions via the Coinbase-developed Base network.
The platform, created by Engage Raise and powered by Coinbase Commerce, offers donors the ability to contribute using over 240 different cryptocurrencies or traditional credit card payments. The service’s website pitches its offering as follows:
Nothing should get between you and your cause.
Donate to your favorite candidates, with crypto.
According to the platform’s website, cryptocurrency donations provide enhanced speed and security while maintaining full compliance with U.S. regulations. The service aims to minimize data collection, gathering only the information necessary to meet compliance standards.
While Engage Raise — and not Coinbase Commerce — is behind the initiative, the development has not gone unnoticed by people involved with the Base protocol. In a July 22 tweet, Base lead developer Jesse Pollak wrote:
big news: any US politician can now accept onchain donations on @base. […] Way lower fees than credit cards, accept donations in thousands of ERC20s, quickly settle to USD for the candidate!
Quick adoption
Notable blockchain advocates among the 13 politicians currently registered on the platform include Representative Tom Emmer and Senator Cynthia Lummis. The platform welcomes additional political campaigns to join, emphasizing its non-partisan stance.
This development comes as cryptocurrency donations gain traction in U.S. politics. In a separate initiative, Donald Trump, the Republican presidential nominee for the upcoming November election, began accepting crypto contributions in May. His campaign reported receiving $3 million worth of cryptocurrency donations in the second quarter of this year.
The cryptocurrency market has reacted strongly to political events in the United States. Oddly enough, it rallied after the recent attempt on Trump’s life with one market analyst commenting at the time:
He’s certainly positioned himself as pro-crypto and as the odds of his reelection were galvanised by the shooting on the weekend, it’s certainly put a big boost underneath the bid in crypto markets and Bitcoin obviously, just an absolute standout.
The post Base crypto donation platform launches for U.S. politicians appeared first on ReadWrite.