Key Points:
- Coinbase launches a $2 million ad campaign promoting crypto remittances to Latino voters.
- Coinbase ad campaign focuses on the cost benefits of using USD Coin over traditional money transfers.
- The crypto industry is investing heavily in the U.S. elections to support pro-crypto lawmakers.
Coinbase has initiated a $2 million ad campaign aimed at Latino voters and consumers.
Coinbase Ad Campaign Launched Targeting Latino Voters
The effort is part of the crypto industry’s broader strategy this U.S. election cycle to support pro-crypto lawmakers.
The Coinbase ad campaign focuses on promoting cryptocurrency as an alternative for sending remittances. One of the ads highlights a young man who uses Coinbase to send money to his grandmother in Mexico. Coinbase asserts that while traditional international money transfers average a fee rate of 6.18%, sending money with USD Coin (USDC) on Coinbase Wallet incurs no fees.
The ads will be broadcast on Univision during the Copa America soccer tournament, and will also appear on digital platforms. The primary focus areas for these ads are California, Texas, and Washington, D.C.
The Coinbase ad campaign adds to the tens of millions of dollars the crypto industry has already spent this election year, aiming to influence down-ballot races and counteract regulatory pushes.
Coinbase is no stranger to advocacy; last August, it helped launch Stand With Crypto, a voter organization for cryptocurrency enthusiasts, which surpassed one million members in June.
U.S. House Passes Digital Currency Bill
The U.S. House of Representatives recently passed a bill to establish 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 expressed willingness to collaborate with Congress on this legislation. Many prominent Democrats are also backing cryptocurrency initiatives.
In another notable development, Tyler and Cameron Winklevoss, founders of Gemini Trust Co, announced a $1 million Bitcoin donation to Republican candidate Donald Trump’s presidential campaign.
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