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Ripple Invests $50 Million in Pro-Crypto PAC Ahead of 2024 Elections

Published 05/30/2024, 02:00 AM
Updated 05/30/2024, 02:45 AM
Ripple Invests $50 Million in Pro-Crypto PAC Ahead of 2024 Elections
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  • Ripple donated an additional $25 million to Fairshake, a crypto-focused PAC.
  • Fairshake has raised over $100 million from major crypto industry players.
  • Ripple CEO Brad Garlinghouse emphasized the company’s commitment to educating voters and opposing anti-crypto policies.

Ripple has pledged an additional $25 million to Fairshake, a crypto-focused Super Political Action Committee, aimed at supporting crypto-friendly congressional candidates in the upcoming 2024 elections. This follows Ripple’s initial $25 million contribution in 2023, bringing its total investment in Fairshake to $50 million.

This figure accounts for half of the $100 million raised by Fairshake from industry leaders like Coinbase (NASDAQ:COIN), Gemini, Andreessen Horowitz, and asset manager ARK Invest.

Several crypto market participants view the 2024 elections as a crucial moment to elect crypto-friendly candidates. Congresswoman Katie Porter (D-Calif.) has benefited from this sentiment, with Fairshake backing Porter’s Senate bid with a $10 million campaign contribution.

In a statement, Ripple explained that its donation aligns with the industry’s aim to advance crypto-friendly policies in the U.S.

…The post Ripple Invests $50 Million in Pro-Crypto PAC Ahead of 2024 Elections appeared first on Coin Edition.

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