Coinbase deploys a $2M ad campaign to advocate for crypto remittances among Latino electors

This initiative is a component of the crypto industry's overarching strategy to garner support for pro-crypto legislators during the current U.S. election cycle.

Coinbase, a major cryptocurrency exchange in the United States, has launched a $2 million advertising campaign to promote crypto remittances among Latino voters. This effort is part of the crypto industry's broader effort to gain support for pro-crypto legislators in the upcoming U.S. election cycle.

The Coinbase ad campaign highlights the use of cryptocurrency for remittances. One of the ads features a young man using Coinbase to send money to his grandmother in Mexico. According to Coinbase, traditional international money transfers have an average fee rate of 6.18%. However, sending money with USD Coin (USDC) on the Coinbase Wallet incurs no fees.

The ads will air on Univision during the Copa America soccer tournament and will also be featured on digital platforms. They are primarily targeting California, Texas, and Washington, D.C.

The Coinbase ad campaign is among tens of millions of dollars that the crypto industry has already spent this election year, aiming to counter regulatory efforts and influence down-ballot races.

Coinbase has been involved in advocacy efforts before; it helped launch Stand With Crypto, a voter organization for crypto enthusiasts that reached 1 million members in June.

Recent legislation passed by the U.S. House of Representatives would create a new legal framework for digital currencies. The move came despite warnings from the U.S. securities regulator about potential financial risks. President Joe Biden has said he is open to working with Congress on the legislation, and several top Democrats are pushing for crypto initiatives.

In other related news, Tyler and Cameron Winklevoss, who own Gemini Trust Co., disclosed a $1 million Bitcoin donation to Republican presidential candidate Donald Trump.

News source：https://www.kdj.com/cryptocurrencies-news/articles/coinbase-deploys-m-ad-campaign-advocate-crypto-remittances-latino-electors.html

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