The post Kraken Pledges $2 Million to Pro-Crypto PACs to Back Crypto Privacy Rights appeared first on Coinpedia Fintech News
As the crypto industry gains influence in Washington, major players are stepping up their efforts to shape the future of digital assets. Companies and advocacy groups are increasingly supporting initiatives and candidates that promote innovation, financial freedom, and open access to cryptocurrency.
Kraken Commits $2 Million To Pro-Crypto Initiatives
In a latest move, Kraken is donating $1 million to Freedom Fund PAC and increasing its 2025 support for America First Digital to $1 million. These moves reflect the company’s commitment to protecting open and fair financial systems.
Financial Freedoms Face Risk
Kraken Co-CEO Arjun Sethi highlights that the Congress has made meaningful progress, with market structure bills moving forward and the tone in Washington gradually shifting from fear to understanding. But he points out that the fight for crypto in the United States is far from over.
He describes Bitcoin as both a technical and philosophical breakthrough that was created in response to opaque financial systems and unchecked intermediaries. Crypto, he explains, was meant as a ‘peaceful revolution’, giving people control over their money, the freedom to transact, and operate outside the systems of arbitrary control.
Its core principles: privacy, self-determination, and the freedom to build without permission, echo fundamental American values. In his words, they are extensions of the Bill of Rights, written in code.
But he cautions that these ideals are under growing threat. “At stake is more than market infrastructure. This is a fight for the core rights of individuals in a digital age,” he said. Unclear regulations, selective enforcement, attempts to shut down infrastructure, and limits on privacy tools all put those ideals at risk.
For Sethi, this is not just a policy debate, they are constitutional questions about how financial freedom fits into a free society.
Kraken Backs Principles Over Politics
He points out that Kraken is not backing a political party, but is supporting core principles. These include:
- the right to self-custody your assets,
- the ability to build and use decentralized systems without permission,
- the freedom to avoid surveillance-based finance, and
- open infrastructure that anyone can access.
These contributions are meant to shape the legal and regulatory rules that will guide crypto’s future in the U.S., benefiting not just Kraken, but every developer, founder, and user in the space.
Tyler Winklevoss Welcomes The Move
Kraken’s announcement quickly gained support within the crypto industry.
Tyler Winklevoss of Gemini welcomed the move, who donated $21 million in Bitcoin to the Freedom Fund PAC in August.
The twins are backing Republican candidates who support President Trump’s crypto agenda, in contrast with broader industry efforts, which backs candidates from both parties.
Crypto PACs Gear Up For 2026 Elections
As the 2026 election approaches, crypto advocacy groups are ramping up their efforts. Just recently, a new political action committee, Fellowship PAC was launched with more than $100 million in funding to back pro-crypto candidates.
While Fairshake PAC said it had $141 million available to influence the upcoming elections as of July.