Ripple donates millions to committees supporting crypto-friendly congressional candidates!

Ripple, a blockchain-based payment solutions company, announced that it has donated an additional $25 million to Fairshake, a top federal political action committee (PAC) focused on supporting cryptocurrency-friendly congressional candidates.

Ripple Donates Another $25 Million to Crypto Super PAC Fairshake

This donation doubles Ripple’s total donations to Fairshake to $50 million, following a $25 million donation in 2023.

Driven by significant contributions from Ripple, Fairshake has raised over $100 million in donations from major cryptocurrency industry players.

These include important companies such as Coinbase, Gemini, venture capital firm Andreessen Horowitz and asset manager ARK Invest.

The fund supports the PAC’s mission to influence the 2024 election by supporting candidates who advocate for progressive cryptocurrency regulation and opposing those who do not.

In a statement today, Ripple emphasized the importance of the 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-focused regulation is ineffective.

Ripple called for a more constructive regulatory environment that would support technological progress and economic growth.

“Our contribution to Fairshake is one of many ways Ripple will actively invest in educating voters about the role of cryptocurrencies in the future and the dangers of the anti-crypto stance held by some policymakers,” said Ripple CEO Brad Garlinghouse. “It’s just one thing.”

*This article is not investment advice.