A crypto charity group called Stand With Crypto has created a new political team called a PAC. This group aims to help politicians in the US who are in favor of digital assets. They plan to gather funds from their large member base of 440,000 people to support candidates from both political parties running for positions in the House of Representatives and the Senate.

This move by Stand With Crypto has gained a lot of attention globally within the crypto community. The PAC they've started is a strong effort by the crypto industry to back politicians who want to promote digital assets and blockchain technology across the country. Recent reports from the US Federal Election Commission show that pro-crypto PACs all over the country, like Fairshake and Defend American Jobs, have raised more than $110 million during this election period.

The significant amount of money raised shows that there's growing interest in crypto among the American public. People are leaning towards regulations that are more friendly towards digital assets in the future. However, this news comes at a time when the sector is facing increased scrutiny due to the recent conviction of Sam Bankman, the CEO of FTX, for embezzling customer funds. Prosecutors claim he used some of these funds to donate over $100 million to political campaigns in the US, which has caused a lot of discussion nationwide.

In addition to these efforts to support politicians who are friendly towards crypto, there's been recent news about Donald Trump, the Republican candidate for the 2024 US Presidential Elections, showing public support for cryptocurrencies. Despite calling Bitcoin a scam in 2021, Trump's change in stance towards these assets could be a strategic move for his election campaign. A report by CoinGape Media suggests that if Trump is re-elected, it could lead to a surge in Bitcoin prices, which would bring hope to the US crypto market.

In conclusion, Stand With Crypto's formation of a political group to support pro-crypto politicians highlights the growing influence of digital assets in US politics. However, this development comes amidst increased scrutiny of the crypto sector, and it remains to be seen how it will impact the upcoming elections and the future of crypto regulation in the country.