BlockBeats reported that on July 5, CoinDesk reported that Multicoin Capital pledged to provide $1 million in funding to Senate candidates who support cryptocurrency. Multicoin plans to provide financial support to four Republican candidates by donating to the conservative super political action committee (PAC) "Sentinel Action Fund". The amount of Multicoin's donation depends on the results of the Sentinel crypto donation campaign.

According to the Sentinel website, Multicoin will match 100% of (SOL) token donations sent to Sentinel by July 14. Gemini is hosting Sentinel’s crypto donation portal and is accepting a variety of tokens including SOL.