Coinbase chief executive Brian Armstrong released an NFT as part of the Stand with Crypto project. The initiative is aimed at demonstrating the community’s demand for a measured government policy toward cryptocurrencies.
I just minted Stand with Crypto https://t.co/4T0OWbpCCf
— Brian Armstrong (@brian_armstrong) April 25, 2023
“The NFT in the shape of a blue shield symbolizes the collective stance to defend and advance the potential of cryptocurrencies,” the page on the Zora marketplace says.
Users can create a commemorative token at no cost, which has no “implied usefulness or value”.
On March 24, Coinbase transferred an initial amount of 0.17 ETH to the project address standwithcrypto.eth that stands behind the project.
As the next steps after the NFT release, it is proposed to add the asset’s badge to the Twitter account name and join the Crypto435 initiative.
Coinbase announced the launch of this public campaign in early March. It aims to foster understanding and support for cryptocurrencies among policymakers and regulators.
Armstrong announced his joining Stand with Crypto a few hours after Coinbase’s filing with the court for a response from the SEC to the petition filed in the summer of 2022. In it the exchange asked to clarify the rules for the crypto industry.
Earlier in April, Coinbase backed the appeal to overturn sanctions against the Tornado Cash mixer, imposed by US authorities.