A political action committee, Fellowship, had pledged $100 million in crypto campaign funding aimed at increasing influence in the American political arena. Reports suggest that Tether, a well-known stablecoin provider, may be among the backers of this fund. However, to date, no financial contributions or activities from this campaign fund have been made public. Cryptocurrencies and related funds are playing an increasing role in political campaigns, especially in countries like the United States where digital currencies are becoming more common. Stablecoins like Tether are valued at parity with the US dollar, making them a convenient and stable medium for financial transfers and funding. The Fellowship committee’s promise of $100 million is a significant amount that could have a major impact on political campaigns, particularly if connected to a political figure or group. Such funds could be used for advertising campaigns, organizational efforts, and voter engagement. Yet, the absence of any visible activity from this fund raises questions about whether the plan will materialize. Projects in the cryptocurrency space often face obstacles due to technical and legal complexities. Additionally, financial transparency and regulatory compliance remain major concerns that can hinder the expected functioning of some funds. Political and financial circles are now debating whether this fund will ever become operational or if it was merely a promotional strategy. If activated in the future, this fund could increase financial support for political campaigns via cryptocurrency, potentially transforming election processes. However, this would also raise important questions regarding financial transparency, legal oversight, and the responsibilities of groups using cryptocurrencies.
Source: coindesk
