Ripple Donates Another $25M to Crypto Super PAC Fairshake

Approximately half of the over $100 million Fairshake has amassed from significant figures in the cryptocurrency sector, such as exchanges Coinbase and Gemini, venture capital firm Andreessen Horowitz, and asset manager ARK Invest, comes from Ripple’s donations.

In the crypto community, the 2024 elections are viewed as a pivotal moment to support and vote in pro-crypto political figures, while opposing those perceived as unfriendly to digital currencies, like Congresswoman Katie Porter (D-Calif.), an Elizabeth Warren (D-Mass.) ally, whose Senate campaign was significantly boosted by a $10 million contribution from Fairshake.

On Wednesdays, we at Ripple take pride in sharing our contributions, and our recent donation to Fairshake is no exception. This is part of an ongoing industry initiative to foster policies that encourage the growth of financial innovation here in the United States.

In simpler terms, the announcement highlighted the need for federal regulators, particularly the SEC, to reconsider their current regulatory approach towards cryptocurrencies. The failed enforcement-based strategy has hindered innovation in this sector, and it’s crucial for the U.S. to create a constructive regulatory environment instead.

“I, Brad Garlinghouse, CEO of Ripple, affirm that our involvement with Fairshake is merely one facet of our commitment to enlightening voters about crypto’s potential future impact and the risks associated with the adversative stance of certain Washington policymakers towards cryptocurrencies. The crypto industry, including Ripple, will not remain silent while regulatory bodies attempt to hinder innovation and economic progress that millions of Americans rely on. Our determination to drive change in this arena is unwavering.”