An army of online activists, known as “altcoins,” is raising millions of dollars for a political group that wants to legalize virtual currency.
The group, called The Antics, aims to build a “digital currency” that could be used to pay for political campaigns and to fight corruption.
But the group is being financed by a group of hedge fund managers who have invested in digital currency firms.
The hedge fund’s CEO, Michael Novogratz, said the group plans to start distributing coins to political candidates on Monday, and that its members hope to eventually raise millions of their own to fund the effort.
The Antic group, a nonprofit organization that aims to help regulate the use of cryptocurrencies and blockchain technology, has been operating since late May.
But it has only been operating for a few months, and the group has been struggling to meet its fundraising goal of $1 million.
“The Antics is a decentralized and untraceable platform for cryptocurrency adoption that is based on blockchain technology,” said Novogatz in a statement.
“As we develop our platform, we will build on that technology to enable users to receive the value of cryptocurrency without having to trust anyone, even government officials, to act on their behalf.”
The group has also been making headlines for its recent use of a Facebook-owned news platform to promote the cryptocurrency.
On Wednesday, Novogats group announced that the group would begin distributing the coins on Monday.
The announcement came hours after a group called the United States Digital Currency Alliance, which has pledged $100,000 to The Anties, announced that it was partnering with Novogatz’s group to launch a new digital currency called Antics Plus.
The alliance, which includes Bitcoin, Ethereum and others, says that it is working with The Antices to “launch a digital currency that will provide a secure, transparent, and accessible way for citizens to participate in the digital economy.”
The alliance announced that The Antico group will be the official platform for distributing the coin.
But Novogatos group said that it will not be the only digital currency to receive support from the United State Digital Currency Association, which it describes as “the largest grassroots digital currency initiative in the United Kingdom.”
The United States digital currency association said that The Apics Plus coin will be a “completely transparent, transparent system” that will not involve third-party verification of transactions.
“We hope to provide more details of the AnticsPlus coin and its development as we develop the platform,” it said in a post on its website.
The United State digital currency group also announced that members of its Digital Currency Working Group would be working on a “draft digital currency roadmap” and that it would be publishing a report in early 2018.
The AP first reported Novogato group’s plans to distribute The Antcoins Plus coin.