Andreessen Horowitz Donates $23 Million To Crypto Super PAC Fairshake

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Julia Smith

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Julia Smith

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Julia is an experienced editor with a passion for covering a wide variety of beats. She loves all things politics and regularly covers regulatory updates on emerging technology here for Crypto News.

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November 4, 2024 17:53 EST

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Crypto Super PAC Fairshake has received $23 million from Andreessen Horowitz’s web3 branch in a16z, founder Chris Dixon said in a November 4 blog post.

Andreessen Horowitz’s Chris Dixon Announces Major Fairshake Super PAC Donation

The bipartisan collective, which seeks to generate funds to support nationwide politicians committed to advancing crypto-friendly regulations across the United States, received $25 million from Coinbase just last week.

According to CNBC, Fairshake has already raised $78 million for the 2026 midterm elections alone, with a16z donating a cumulative total of $70 million.

“No matter what happens on Election Day we are taking a long-term approach to our policy efforts,” Dixon wrote. “Contributing to Fairshake is just one important component to achieving our ultimate goal of achieving clear laws to govern the crypto industry while protecting consumers and allowing entrepreneurs to build with confidence.”

While the crypto founder praised the digital asset-friendly PAC for doing a “tremendous job bringing crypto into the national conversation for this election cycle,” Dixon seemingly criticized the United States Securities and Exchange Commission (SEC) for its stringent regulatory strategy toward digital assets.

“In place of fundamental rules of the road, regulators have relied on enforcement actions that have been, at best, handed out arbitrarily — and, at worst, have attempted to box out Congress from regulating crypto,” Dixon wrote.

All Eyes On Crypto Regulations Ahead Of November 5

The SEC has long received flack from crypto community members for its regulation-by-enforcement approach to cryptocurrencies.

The federal agency has taken several enforcement actions against key players in the crypto industry, including Binance, Kraken, and Coinbase.

Republican nominee Donald Trump has vowed to fire SEC Chair Gary Gensler should he win the 2024 U.S. presidential election, warning American crypto entrepreneurs that they would be “living in hell” should he lose.

“If, for some reason, bad things happen and we don’t win the election, those who are free as a bird right now in the crypto world could face scrutiny the day after the election if they win,” Trump said at the launch of his family’s crypto platform, World Liberty Financial.

Meanwhile, Democratic nominee Kamala Harris vowed to enact crypto-friendly regulations should she win on Election Day.

“She will make sure owners of and investors in digital assets benefit from a regulatory framework,” a recent agenda from the Harris campaign reads.