Fourth-term Member of Congress from California’s Bay Area Eric Swalwell is hoping to boost his presidential bid in the 2020 US elections by opening up his campaign donations to cryptocurrencies.
The Democratic presidential candidate dubbed “The Snapchat King of Congress” is clearly targeting the potential of the millennium vote in the move, aided by his role as founder and chairman emeritus of Future Forum, a Congressional caucus of House Democrats that focuses on millennial’s opportunities and issues.
Pro-tech Swalwell is using his technical knowledge to a good end, utilizing blockchain technology provider The White Company, founded by the entrepreneur Elizabeth White, to drive his donation round. Long an admirer of all things blockchain, Swallwell commented:
“Blockchain can change the world, if we let it. So much of our public life now exists online, and there’s no reason to believe we can’t extend this further into our democracy and our economy – from exercising our right to vote, to how we look at cryptocurrency.”
The campaign is open to donations, supported by The White Company whose offerings include stablecoins, a fiat on/off ramp, a crypto exchange, wallet, merchant processing product and a Visa or MasterCard prepaid option in 10 supported currencies. His focus on millennials driven by statistics from recent eToro figures indicating that 43% of millennial online traders now favour the crypto market ahead of traditional assets.
The move follows fellow Democratic candidate Andrew Yang who has been accepting cryptocurrency donations since last July in his bid to get to the White House in 2020.
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