Kraken, the well-known cryptocurrency exchange has successfully raised more than $3 million in donations to provide for Coincenter, a non-profit organisation established to fight legal actions on behalf of cryptocurrencies.
We did it, team! Huge THANK YOU to everyone who helped us exceed the $1m match — that's more than $3m raised for @coincenter in May! Bad news for Lambo dealers but it is heartening to see so many individuals and companies make a show of support. Cheers! https://t.co/vZf4DXBM8a
— Kraken Exchange (@krakenfx) June 1, 2018
Alongside Kraken’s own fundraising of $1m, Coincenter was able to match the value this month – successfully raising $1.2 million – and, in a post on 15th May, Kraken pledged to match any additional amount raised in gifts adding a further $1m to the pot, commenting:
“The great work that Coin Center does is essential and referenced by governments around the world. They’ve been ardent defenders of blockchain technology, cryptocurrency and innovation. Their work benefits the community, the industry and people who have yet to hear about Bitcoin. We are very proud to be able to support their continued effort.”
According to the organisation's blog, donations made to Coincenter will be directed towards increased legal support for cryptocurrencies as they face continued legal scrutiny – a particular concern for the non-profit with its headquarters in Washington D.C.:
“These contributions will go a long way to helping us gear up for the increased attention to cryptocurrencies here in DC. So, if you’ve been thinking about donating to Coin Center, now is the time. Your money will go twice as far.”
Throughout its lifespan, Coincenter has been a pivotal force in standing up for cryptocurrencies against the government in the US and overseas. On December 2017, for example, Coincenter became embroiled in a battle with the US congress over draft legislation.
The bill in question was S.1241, known as the “Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2017.” Coincenter was a pivotal force in educating legislators and advocating on behalf of cryptocurrencies to those both for and against the proposed legislation.
