Top Democratic Donor Drops Crypto PAC Amid $12M Pledge to Unseat Sen. Sherrod Brown: Report

Ron Conway, a prominent Democratic donor and tech billionaire, has cut ties with a cryptocurrency super PAC network after the group donated $12 million to help defeat Senator Sherrod Brown (D-Ohio) without his prior consent.

Conway argues that this move would jeopardize ongoing efforts to pass crypto-friendly legislation in Congress, a mission he has actively supported through his relationships with key Democratic lawmakers. Reported monday.

Cornei, who donated $500,000 to one of the PACs in December, expressed his outrage in emails to other influential figures in the cryptocurrency industry and PAC members, including Coinbase CEO Brian Armstrong and Ripple CEO Brad Garlinghouse.

In the email, Conway reportedly called the decision “short-sighted and foolish,” especially as Senate Majority Leader Chuck Schumer is trying to push cryptocurrency regulation legislation through the Senate.

He also accused the group of not informing him of the decision, despite his active advocacy for the industry’s interests in Congress.

“No one bothered to tell me in advance that you were doing this,” Conway wrote to members of the network known as Fairshake, including Armstrong, Garlinghouse, and Andreessen Horowitz founders Marc Andreessen and Ben Horowitz.

“I am the one who has helped this cause in the most meaningful way, using a personal relationship that I have with the cause for over 25 years, and no one told me,” Conway said. “Unfortunately, I am also a donor to Fairshake.”

Coney’s decision to distance himself from the PAC comes amid growing tensions within the cryptocurrency industry ahead of the U.S. presidential election in November.

The divide between more moderate industry insiders and those aligned with conservative figures like Donald Trump has energized people on both sides of the political aisle. Keep your distance from other people.

Neither Conway nor the Fairshake network, which led the controversial pledge, have commented publicly on the fallout. Fairshake did not immediately respond to a request for comment.