Ripple Donates $25 Million More To Crypto Super PAC Fairshake

Cryptocurrency Regulation

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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 26, 2024

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Ripple CEO Brad Garlinghouse announced in a November 26 X post that the crypto company will donate an additional $25 million to crypto super PAC Fairshake following the 2024 U.S. elections.

Ripple CEO Brad Garlinghouse Announces Fairshake Donation

Ripple previously donated an estimated $50 million to the crypto super PAC to bolster digital asset-friendly electoral candidates across the United States.

“Fairshake is the most successful multi-candidate, bipartisan Super PAC in American history,” Ripple CEO Brad Garlinghouse said in a November 26 post on X. “Electing pro-crypto, pro-growth and pro-innovation candidates is a no-brainer, and to continue that momentum, Ripple is contributing another $25M to Fairshake.”

How Crypto Will Be Affected Under President-Elect Donald Trump

The bipartisan crypto collective is known for its extensive bipartisan support, raising over $200 million during the 2023-2024 electoral cycle.

A 2024 report from the non-profit Public Citizen found that crypto backers contributed nearly half of all corporate money to this year’s elections.

Fairshake was handed several wins this year when a number of pro-crypto political hopefuls were elected to office, with the majority of its backed crypto-friendly candidates winning their respective seats.

As of earlier this month, the crypto super PAC has $78 million ready to be implemented ahead of the 2026 U.S. midterm elections.

“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,” a16z founder Chris Dixon said in a November 4 announcement unveiling the crypto company’s latest multi-million dollar donation.

However, the most consequential election for digital assets came on November 6 when now President-elect Donald Trump outperformed Democratic nominee Kamala Harris to secure the Oval Office.

Trump, who most recently launched his family’s crypto platform, World Liberty Financial, has long been a proponent of establishing a digital asset-friendly regulatory framework for the blockchain sector as a whole.

The one-time reality television star previously vowed to make the United States the “crypto capital of the planet” and fire current United States Securities and Exchange Commission chair Gary Gensler for his regulation-by-enforcement approach to digital assets.

Gensler announced his resignation before Trump’s inauguration in January, calling the federal regulator a “remarkable agency.”

Though Trump has yet to announce who will oversee digital asset regulation, with a unified, crypto-friendly government, a balanced regulatory framework for the blockchain sector seems more plausible than ever.