Prominent Crypto Companies and Leaders Form Alliance to Support Pro-Crypto Candidates
A political action committee called Fairshake has announced that leaders in the crypto and blockchain industry have raised a total of $78 million to support pro-crypto and pro-innovation candidates in the upcoming 2024 congressional elections. Fairshake is a registered super PAC that supports candidates solely through independent activities. The funds will be used to back leaders who advocate for American crypto and blockchain innovation as well as responsible regulation. Some of the notable supporters of Fairshake include venture capital firm Andreessen Horowitz, Coinbase, Ripple, and Kraken. Their goal is to establish a clear regulatory and legal framework for the blockchain economy to thrive.
Crypto Leaders Stress the Importance of U.S. Leadership
Brad Garlinghouse, the CEO of Ripple, expressed his belief that the United States must not remain passive on the global stage. Garlinghouse emphasized that regulatory overreach, especially from the SEC, is pushing the country in the wrong direction while other nations take advantage of this lack of leadership. He called for the advancement of leaders who will champion innovation and responsible regulation. Similarly, Coinbase CEO Brian Armstrong stated that the crypto industry now has a substantial amount of funding to support pro-crypto candidates in the 2024 elections, aiming to provide better representation for the millions of Americans who use cryptocurrency.
Hot Take: Crypto Industry Gathers $78 Million to Elect Pro-Crypto Candidates in 2024 Elections
Prominent figures and companies in the crypto industry have come together to raise a significant amount of money to support pro-crypto candidates in the 2024 congressional elections. This alliance, led by Fairshake, recognizes the need for clear regulations and a favorable legal framework to fuel the growth of the blockchain economy. With $78 million already amassed and more to come, the crypto industry aims to elect leaders who will champion innovation and responsible regulation. This funding will provide better representation for the millions of Americans who engage with cryptocurrency and ensure that the United States does not fall behind on the global stage.
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