MoonPay, a leading crypto payment firm, has stepped forward as an early supporter of Coinbase's pro-crypto Political Action Committee (PAC) ahead of the upcoming U.S. election. In an announcement made by MoonPay CEO Ivan Soto-Wright on May 13, the company revealed that it had made a donation to Coinbase's nonprofit crypto advocacy project, Stand With Crypto.

Soto-Wright highlighted the crucial role of the upcoming U.S. presidential election in shaping the future of the cryptocurrency industry within the country. He stressed the importance of collective action in advancing crypto amidst evolving regulatory landscapes.

MoonPay's contribution underscores its commitment to fostering innovation while prioritizing consumer protection within a transparent regulatory framework.

The donation follows closely on the heels of Stand With Crypto's launch of a PAC, providing approximately 450,000 members with the opportunity to support pro-crypto candidates in the 2024 U.S. elections. This initiative builds upon Coinbase's ongoing efforts to engage with regulatory authorities and promote dialogue surrounding financial innovation.