Kraken Donates to Crypto Advocacy Firm Coin Center

Kraken, a major cryptocurrency exchange, has donated $100,000 to the cryptocurrency advocacy group Coin Center.

Kraken Supports Coin Center

The exchange says that it intends for the donation to go toward ongoing research, education, and rights within the crypto landscape.

Kraken says that it aims to be “at the forefront of funding important advocacy work that will help educate U.S. lawmakers and regulators on the transformative potential of cryptocurrency.”

Kraken notes that it “laid the groundwork” for other donations with its own previous $3 million donation to Coin Center in 2018.

Coin Center is one of several organizations that have called for a re-examination of FINCEN’s upcoming exchange wallet regulations. It has also commented on the STABLE Act, which could restrict the use of stablecoins, along with numerous other regulatory issues.

Apart from Coin Center, Kraken has donated over $500,000 to other projects. In December 2020, it donated $150,000 to Gitcoin, and in November, it donated $150,000 to the Bitcoin development site Brink.

Grayscale Also Donated

The crypto asset management firm Grayscale has also donated $1 million and intends to match donations that are made by individuals and corporations, up to a limit of $1 million.

Individual crypto investors and corporations can donate to Coin Center through the group’s donation web page. Donations will be matched throughout February.