Blockchain-based payment solutions company Ripple announced an additional $25 million donation to Fairshake, a federal super political action committee (PAC) focused on supporting crypto-friendly Congressional candidates.
Ripple Donates Another $25 Million to Crypto Super PAC Fairshake
This latest contribution doubles Ripple's total donation to Fairshake to $50 million, following a similar donation of $25 million in 2023.
Backed by significant contributions from Ripple, Fairshake has raised over $100 million in donations from major crypto industry players.
These include important companies such as Coinbase, Gemini, venture capital firm Andreessen Horowitz and asset manager ARK Invest.
This fund supports the PAC's mission to influence the 2024 elections by supporting candidates who advocate for progressive crypto regulations and oppose those who do not.
In a statement today, Ripple underlined the importance of its donation and positioned it as part of a broader effort to shape policies that encourage financial innovation in the United States.
The company criticized the U.S. Securities and Exchange Commission (SEC) for its regulatory approach and argued that enforcement-driven regulation was ineffective.
Ripple called for a more constructive regulatory environment that will support technological progress and economic growth.
“Our contributions to Fairshake are just one of the many ways Ripple will actively invest in educating voters about the role cryptocurrency will play in the future and the dangers of the anti-crypto stance some policymakers hold in Washington,” said Ripple CEO Brad Garlinghouse.
*This is not investment advice.