Fairshakes Raises $78 Million to Support Pro-Crypto Legislators
Fairshakes, a federal super political action committee (PAC), has raised $78 million to fund pro-crypto legislators and support leaders who advocate for blockchain innovation in the United States. The firm aims to drive positive policies and developments in the industry by providing financial support to US Senate and House candidates across party lines. The goal is to streamline regulations and shape the entire landscape after a period of uncertainty.
Erasing Bad Perceptions of Virtual Assets
Last year was turbulent for the digital asset market, with industry collapses, investor losses, and declining asset prices. This led to negative perceptions of the sector among regulators and traditional players. The activities of former FTX CEO Sam Bankman-Fried in connection to political donations further contributed to these criticisms. Digital asset analysts have called on executives to increase lobbying efforts to improve regulations and protect the market outlook.
Pro-Responsible Regulations
Fairshakes emphasizes that its mission is not anti-regulations but pro-responsible regulations in the United States. The uncertain state of regulations in the country has led some firms to consider moving out. Companies like Coinbase have announced international expansion plans, choosing countries with clear-cut industry policies. Coinbase also highlighted its commitment to fighting legal cases and helping clear up domestic regulations.
Hot Take: Digital Asset Executives Raise $78 Million for Pro-Crypto and Responsible Regulations
Fairshakes’ successful fundraising demonstrates the growing support for pro-crypto legislators and responsible regulations within the digital asset industry. With $78 million at their disposal, Fairshakes aims to shape the regulatory landscape and promote blockchain innovation in the United States. This significant investment highlights the industry’s commitment to driving positive policies and erasing negative perceptions of virtual assets. By supporting leaders who champion progressive innovation, Fairshakes and its affiliates are paving the way for a clear regulatory framework that will benefit the blockchain economy’s full potential.
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