Crypto-friendly Super PAC Fairshake Receives $4.9 Million Donation from Winklevoss Twins
Crypto-friendly super PAC Fairshake recently received a generous donation of $4.9 million from Cameron and Tyler Winklevoss, the co-founders of Gemini. The donation, with each brother contributing $2.45 million, makes up the majority of the $6.8 million received by the organization in January. Gemini, a New York-based crypto exchange and custody platform, was founded by the Winklevoss twins in 2015 and became the first licensed Ethereum exchange in the U.S. The company faced challenges in 2022 due to the industry’s difficulties and had to freeze withdrawals for its Gemini Earn program. Meanwhile, Fairshake has become a popular choice for crypto-friendly donors and has raised over $85 million to date.
Other Donors and Fairshake’s Treasurer
In addition to the Winklevoss twins’ donation, Fairshake also received contributions from venture capital firms Blockchain Capital and Electric Capital Partners in January. The super PAC has an impressive cash reserve of $73 million and its treasurer, Brandon Philipczyk, has extensive campaign experience including working for Hillary Clinton’s campaign in Nevada and Mike Bloomberg’s presidential campaign.
Major Donations from Last Year
Fairshake secured significant donations in late 2021, including $20 million from Ripple Labs, $21.5 million from Coinbase (including $1 million from CEO Brian Armstrong), and a staggering $38 million from Andreessen Horowitz and its co-founders Marc Andreessen and Ben Horowitz.
Hot Take: Fairshake Continues to Make Waves
Fairshake’s ability to attract substantial donations from prominent figures in the crypto industry highlights its growing influence. With a strong financial position and support from high-profile donors, the super PAC is well-positioned to advocate for crypto-friendly policies in the upcoming elections.
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