How Cryptocurrencies and Web3 Technologies Can Impact US Elections: New Research from Coinbase
New Research Shows Majority of Voters in Key US States Support Cryptocurrencies and Web3 Technologies
A recent study conducted by Coinbase reveals that 55% of voters in pivotal states in the US are more likely to support political candidates who are in favor of cryptocurrencies and web3 technologies. This data is part of Coinbase’s efforts to mobilize the 52 million cryptocurrency owners in the country.
Cryptocurrencies and Web3 Technologies Set to Impact the 2024 US Elections
This research highlights the increasing influence of cryptocurrency owners in the United States. Not only does one in five American adults own cryptocurrencies, but this group also tends to be younger and more diverse compared to the general population. The findings suggest that cryptocurrencies are not just financial assets but also political tools that can shape election outcomes.
The study conducted by Coinbase also reveals public dissatisfaction with the current financial system, with 87% of Americans believing that it requires a major overhaul. Only 14% express optimism about its future. Additionally, in key states, over 40% of digital asset owners use cryptocurrencies for remittances, offering a cost-effective alternative to traditional banking.
Promoting US Legislation: Coinbase’s Response
This research aligns with Coinbase’s recent campaign to advocate for US legislation that addresses regulatory oversight in the cryptocurrency market. With a majority of voters in battleground states such as New Hampshire, Nevada, Ohio, and Pennsylvania expressing support for candidates who back cryptocurrencies and Web 3 technologies, it is becoming increasingly apparent that resistance to these advancements may come with political consequences.
For more information, you can read about Coinbase, Sino, and Libra’s joint initiative to establish a $60 million cryptocurrency fund.