The crypto industry is gearing up for the 2024 U.S. elections, amassing a war chest of $78 million to support pro-crypto candidates. Fairshake, a super PAC registered with the Federal Election Commission (FEC), is leading the initiative, with prominent contributions from industry leaders and companies. Supporters include Andreessen Horowitz, Ark Invest, Coinbase, Ripple, and others. The goal is to back leaders who advocate for American crypto and blockchain innovation and responsible regulation.
Industry Leaders and Companies Unite:
Fairshake's war chest receives contributions from influential figures and entities within the crypto space. Notable supporters include venture capital firm Andreessen Horowitz, Coinbase and its CEO Brian Armstrong, Ripple, Kraken, Circle, and the Winklevoss twins. The initiative aims to address regulatory challenges and establish a clear legal framework to unlock the full potential of the blockchain economy.
Ripple CEO Advocates for Pro-Crypto Leadership:
Ripple CEO Brad Garlinghouse emphasizes the need for pro-innovation and pro-crypto candidates in the 2024 U.S. election cycle. He asserts that the U.S. cannot afford to lag behind globally, pointing out regulatory challenges, especially from the SEC, as obstacles to progress. Garlinghouse advocates for leaders who champion innovation and prioritize responsible regulation to propel the industry forward.
Coinbase's Commitment to Representation:
Coinbase CEO Brian Armstrong expresses pride in contributing to the war chest, emphasizing the importance of providing better representation for the 52 million Americans who have used crypto. He envisions a bipartisan effort and aims to reach $100 million in the first quarter of the upcoming year. The industry's collective goal is to promote transparency, innovation, and a compliance-first approach through supporting candidates aligned with crypto values.
Shaping the Regulatory Landscape:
With a substantial war chest, the crypto industry seeks to influence the regulatory landscape in its favor. The initiative reflects a united front within the crypto space to navigate regulatory challenges, foster innovation, and ensure that the industry's voice is heard in shaping policies conducive to its growth.