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Ripple Boosts Fairshake with $25M Donation

Ripple doubled down on its support for the crypto super Political Action Committee Fairshake with $25 million donation
May 30, 2024

In a move to bolster its support for crypto-friendly political candidates, Ripple has announced a second $25 million donation to Fairshake, a crypto super Political Action Committee (PAC). This contribution supplements the $25 million it provided to Fairshake last year, underlining Ripple's commitment to shaping policies conducive to financial innovation in the US.

Fairshake PAC, dedicated to endorsing pro-crypto and pro-innovation political candidates in the upcoming 2024 elections, has amassed a substantial war chest exceeding $102 million for the election cycle. These funds primarily stem from significant individual contributions by key figures within the crypto sector, including a coalition of crypto enterprises, executives, and investors such as Coinbase, Andreessen Horowitz, and the Winklevoss twins.

Ripple's CEO, Brad Garlinghouse, criticized the SEC's regulatory approach towards cryptocurrencies, advocating for a more proactive stance in fostering innovation. He emphasized the need for the US to embrace crypto and blockchain technologies, urging meaningful changes to support economic growth and innovation.

With the 2024 elections looming, Garlinghouse highlighted the significance of electing candidates who support the progress of crypto, setting the stage for a pivotal moment in shaping the industry's future.

While the recent approval of a cryptocurrency-friendly bill by the US House signals progress, Ripple and other crypto industry stakeholders remain steadfast in their pursuit of broader solutions and regulatory frameworks that facilitate innovation and growth in the sector.

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