Crypto community adopts ‘Stand With Crypto’ NFT after SEC sues Binance and Coinbase
The crypto community minted 140,830 non-fungible tokens (NFT) in a collection previously launched by the exchange giant Coin base with a goal of getting the US regulators to provide the much needed and “sensible crypto policy”.
Launched in April this year ‘Stay with crypto’ are commemorative NFTs with “no intended utility or value.”
The gathering is “a symbol of unity for the crypto community seeking sensible crypto policy,” the site said.
It shows a blue shield representing individual support and the collective stand to protect and promote the potential of cryptocurrencies.
Interested individuals can create a free ‘Stand with Crypto’ NFT and add a shield emoji next to their Twitter display name.
They can then either scan the QR code at NFT to become “a Stand with Crypto advocate” or register at ConsenSys quorum website.
The associated QR code is updated periodically, the description says, to enable the NFT holder to take “various actions to continue to advocate for crypto.”
This Quorum website states that,
“If you love crypto and believe in the potential of web3, it’s more important than ever to advocate for pro-crypto politics in the US.”
It goes on to explain that ‘Stand with Crypto’ is a grassroots campaign to advocate for pro-crypto policies and to “change hearts and minds” in all 435 US congressional districts.
“Stand with Crypto,” it argued, will influence laws and policies, bring people together in a community to gain strength in numbers, promote innovation, protect jobs, and educate ordinary Americans about crypto.
At the time of writing, 140,830 pieces had been minted. Among these was one marked by Coinbase CEO Brian Armstrong.
Open sea data shows that at the time of writing, the collection had a total volume of ETH 5, the floor price was ETH 0.0002, and there were 53,155 owners.
Any coin fees associated with this collection will be donated to controlled organizations through a Crypto Advocacy round with GitcoinCoinbase said, adding:
“Capture Unlimited NFTs and Raise More Funds to Support Crypto Advocates.”
In particular, this increase in interest for the collection comes as US Securities and Exchange Commission (SEC) started a legal battle with Coinbase and Binance, among others. You can read more about it below.
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Learn more:
– Unraveling the crypto crisis: Timeline of major events
– No More Wild West: SEC Introduces New Era for Crypto
– Coinbase CEO Brian Armstrong says he was met with an “icy reception” when he chatted with the SEC’s Gensler
– SEC Chairman Gary Gensler Asks Crypto Firms to Register After Binance, Coinbase Fees
– How to send Ethereum from Coinbase to MetaMask Wallet
– 22 ways to earn crypto on Binance
