As the United States prepares for the upcoming presidential election, the cryptocurrency lobbying group Fairshake has successfully secured substantial financial support.
According to CNBC, major cryptocurrency companies such as Ripple, Coinbase, and venture capital firm Andreessen Horowitz (a16z) are pooling resources to influence the outcome of the 2024 election, with these donations helping Fairshake raise $100 million by the end of October.
Coinbase’s Chief Policy Officer Fariar Shirzad explained to CNBC that the cryptocurrency industry is coming together to ensure their voices are heard. He stated, “We realize that the only way to remove politics from cryptocurrency is to establish a political operation that engages the millions of Americans who own cryptocurrency in this process.”
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However, Fairshake seeks to maintain a bipartisan approach and will focus on supporting House and Senate candidates rather than directly participating in the presidential race.
Earlier this month, Coinbase announced a donation of $250,000 to the Fairshake SuperPAC to support cryptocurrency-friendly politicians. Ripple and Andreessen Horowitz have also pledged $250,000 each to Fairshake to support the lobbying group’s efforts to shape a political landscape favorable to cryptocurrency interests.
