Ripple has pledged an additional $25 million to the political action committee (PAC) Fairshake, reinforcing its commitment to supporting pro-crypto candidates in future U.S. elections.
Key Details
- Major Contribution: Ripple’s latest $25M pledge follows a $45M donation earlier this year, making it one of Fairshake’s largest backers alongside Coinbase, Jump Crypto, and Andreessen Horowitz.
- Pro-Crypto Advocacy: Fairshake focuses on supporting candidates across party lines who favor policies that promote cryptocurrency growth and innovation.
Election Influence
In the 2024 elections, roughly two-thirds of candidates supported by Fairshake were elected to Congress, helping build momentum for crypto-friendly policies. Notably, Republicans secured a political trifecta, gaining control of the presidency, Senate, and House of Representatives—their first since 2017.
Future Legislative Focus
The Republican-led Congress could prioritize key crypto-related legislation, including the Financial Innovation and Technology for the 21st Century Act and potential stablecoin regulations. Fairshake is also eyeing the 2024 Ohio Senate race to challenge Senator Sherrod Brown, a vocal critic of the crypto industry.
Summary Review: Ripple has committed $25 million to Fairshake PAC, adding to its substantial contributions supporting pro-crypto candidates. With Republicans gaining control in Washington, the coming years could see heightened efforts to advance cryptocurrency legislation and influence the political landscape for the industry’s growth.
Disclaimer: Nothing in this article, or any content from Web30 News, should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves risks, and investors should be aware that capital is at risk and returns are never guaranteed. Please conduct thorough research and consult with a qualified financial advisor before making any investment decision.
