Ripple Pours $25M More into Crypto Super PAC Fairshake

Ripple
Last updated:
Crypto Reporter
Crypto Reporter
Shalini Nagarajan
Author Categories
About Author

Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

Last updated:
Why Trust Cryptonews
Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews

Ripple announced a second $25m donation to the crypto super Political Action Committee (PAC) Fairshake on Wednesday. This contribution supplements the $25m it provided to Fairshake last year.

The company’s donation, alongside contributions from fellow crypto companies and leaders, forms part of a collective industry endeavor to promote policies conducive to the future of financial innovation in the US.

The Fairshake PAC is dedicated to backing pro-crypto and pro-innovation political candidates in the 2024 elections. With a war chest exceeding $102m for the 2024 election cycle, the Fairshake PAC and its associates have garnered significant funds.

These are primarily substantial individual contributions from key figures within the crypto sector. A coalition of crypto enterprises, executives, and investors, among them Coinbase, Andreessen Horowitz, and the Winklevoss twins have contributed to the PAC.

House Bill Offers Glimmer of Hope, But Crypto Industry and PACs Demand Broader Solutions


Ripple criticized the SEC’s way of regulating cryptocurrencies in its statement. The firm argued that the agency’s current method, which relies on enforcing existing laws rather than creating new ones, isn’t working.

It also pointed out that the US needs to catch up in embracing crypto and blockchain, despite progress in Congress on comprehensive legislation to secure a promising future for American innovation, competitiveness, and growth.

“Ripple will not – and the crypto industry should not – keep quiet while unelected regulators actively seek to impede innovation and economic growth that millions of Americans utilize,” the company’s CEO Brad Garlinghouse said. “The crypto industry intends to remain heavily invested in this effort until we see meaningful change.”

He added that the 2024 elections will be a big deal for crypto. This is because it would be a choice between candidates who support the progress of crypto and those who don’t.

Recently, the US House approved a bill seen as favorable to the cryptocurrency sector. It aims to transfer cryptocurrency regulation authority to a government agency perceived as more supportive of the industry, among other things.

More Articles

Press Releases
Wall Street Pepe Sells Out WEPE Tokens Early, Raising Over $73M – Listing Imminent
2025-02-10 19:51:37
Blockchain News
Deutsche Digital Assets Expands European Presence with New Paris Office
Tanzeel Akhtar
Tanzeel Akhtar
2025-02-10 19:45:42
Crypto News in numbers
editors
Authors List + 66 More
2M+
Active Monthly Users Around the World
250+
Guides and Reviews Articles
8
Years on the Market
70
International Team Authors