Multicoin Capital Will Match Solana (SOL) Donations to Pro-Crypto Republican PAC Sentinel Action Fund

Multicoin Capital will match Solana (SOL) donations to the Sentinel Action Fund, a political action committee (PAC) supporting pro-crypto Republican senators

Crypto investment firm Multicoin Capital announced Monday that it will match Solana (SOL) donations to the Sentinel Action Fund, a political action committee (PAC) that supports pro-crypto Republican senators, for up to $1 million over 10 days.

Multicoin Capital Managing Partner Kyle Samani said the firm's involvement will “double the impact” of donor contributions.

The Sentinel Action Fund is a self-described “conservative Super PAC” that supports candidates and innovation. It backs Republican Senate candidates, specifically challengers Sam Brown (R-Nev.), Dave McCormick (R-Pa.), Bernie Moreno (R-Ohio), and Tim Sheehy (R-Mont.).

Multicoin Cofounder and Managing Partner Tushar Jain said the firm has supported candidates in both parties in the past and believes crypto should be a bipartisan or nonpartisan issue. However, Multicoin is now supporting a single-party organization because it considers itself a single-issue voter.

Samani and Jain have highlighted the efforts of Senator Bill Hagerty (R-Tenn.) to create a “pro-crypto army.” Jain also mentioned Senator Cynthia Lummis (R-Wyo.) as being supportive of the crypto sector.

According to campaign finance tracking website OpenSecrets, Multicoin Capital members donated $200,000 to the bipartisan crypto PAC Fairshake and $12,500 to the Blockchain Association PAC in the 2024 election cycle.

Other firms, such as Andreessen Horowitz (a16z) and Ripple, also recently donated to Fairshake.

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