Crypto industry leaders, including Ripple, Coinbase, and Kraken, along with individuals such as Brian Armstrong, Fred Wilson, and the Winklevoss twins, are donating millions of dollars to support the election of pro-crypto candidates in the 2024 congressional elections.
Crypto Leaders Raise Funds for Pro-Crypto Candidates
The crypto and blockchain community has raised over $78 million to back political candidates who are supportive of cryptocurrency innovation and fair regulations.
According to a blog post by Coinbase, only 9% of Americans are satisfied with the current system, and these donations aim to represent the 52 million Americans who hold digital assets and want a level playing field.
A Super PAC called Fairshake has initiated fundraising efforts for political candidates in the upcoming 2024 congressional elections. The list of supporters includes major players like Andreessen Horowitz, Ark, Blockchain Capital, Circle, Cumberland, Framework Ventures, Jump Crypto, Lightspark, Messari, Multicoin Capital, Paradigm, Potter Ventures, and others.
Ripple CEO Calls for Pro-Innovation Candidates
Ripple CEO Brad Garlinghouse emphasized the need for leaders who will champion innovation and responsible regulation. He criticized the U.S. government and regulators for pushing the crypto industry out of the country with excessive regulations.
Garlinghouse stated that it is crucial to promote transparency, innovation, and a compliance-first approach. He believes that 2024 is an opportunity to support candidates who will prioritize these principles.
Hot Take: Crypto Industry Raises Millions to Support Pro-Crypto Candidates
The crypto industry is rallying together to raise funds for political candidates who will advocate for innovation and fair regulations in the crypto space. With over $78 million already raised by companies like Ripple and Coinbase, along with prominent individuals in the industry, this effort aims to ensure that the voices of the 52 million Americans holding digital assets are heard.
By supporting pro-crypto candidates in the 2024 congressional elections, the crypto community hopes to bring about regulatory clarity and prevent overreach by organizations like the SEC. It’s a crucial moment for the industry to back leaders who will prioritize innovation and responsible regulation, as other countries are taking advantage of the U.S.’s regulatory uncertainties.
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