Prominent crypto leaders and companies were able to contribute to an entire war chest for supporting pro-crypto candidates in the elections for 2024, amassing 78 million dollars to date.
In this context, Ripple’s CEO stated, “The U.S. cannot afford to continue taking a back seat on the global stage. Regulatory overreach (esp from the SEC) is actively moving the U.S. in the wrong direction. The crypto industry has a large war chest now to elect pro-crypto candidates in 2024.”
The U.S. Cannot Afford To Continue Taking Back Seat On Global Stage.
A federal autonomous expenditure-only committee for political action known called Fairshake announced on Monday that blockchain and crypto leaders have managed to amass 78 million dollars “for Fairshake Super PAC and its affiliates to support pro-innovation and pro-crypto leadership going into 2024 congressional elections.”
The announcement in question states: “They will report $78 million raised and in the bank in Q4 2023 to support leaders who support American crypto and blockchain innovation and responsible regulation in the forthcoming 2024 elections.”
The announcement added that the Fairshake supporters include Tyler Winklevoss, Cameron Winklevoss, Fred Wilson, Ripple, Potter Ventures, Paradigm, Multicoin Capital, Messari, Lightspark, Kraken, Jump Crypto, Hunter Horsley, Framework Ventures, Cumberland, Ron Conway, Circle, Wences Casares, Blockchain Capital, Brian Armstrong, Coinbase, Ark Invest, and Andreessen Horowitz.
Fairshake also stressed, “In order for the blockchain economy to realise its full potential, a clear regulatory and legal framework for success is needed.”
Brad Garlinghouse, the CEO of Ripple, commented on X on Monday, “Ripple is putting a stake in the ground, leading the charge with other industry leaders to support pro-innovation and pro-crypto candidates in the 2024 U.S. election cycle.”
The executive further opined, “The U.S. cannot afford to continue taking a back seat on the global stage. Regulatory overreach (especially from the SEC) is actively moving the U.S. in the wrong direction, and other countries are taking full advantage of the lack of U.S. leadership. We need to advance leaders who will champion innovation and spearhead paths towards responsible regulation. 2024 is the time to go back to first principles by encouraging initiatives to promote transparency, innovation and a compliance-first approach. Team Ripple, and I won’t squander it.”
The CEO of Coinbase, Brian Armstrong, stated, “The crypto industry has a large war chest now to elect pro-crypto candidates in 2024. We’re proud to contribute and give the 52m Americans who have used crypto better representation. It will be bi-partisan. And hopefully we can get it to $100m in Q1 next year.”