Coinbase, others raise $78m for pro-crypto super PAC

On Dec. 18, Fairshake, a federally registered super PAC, and its affiliated network launched their initial fundraising campaign.

According to the release, the PAC is dedicated to promoting leaders who embrace the transformative potential of the American crypto community. Fairshake has garnered support from industry players such as Andreessen Horowitz, ARK, Brian Armstrong, Blockchain Capital, Wences Casares, Circle, Coinbase, and Cameron and Tyler Winklevoss.

On the same day, Ripple CEO Brad Garlinghouse voiced his concerns about regulatory overreach in the country on X. He stated that Ripple intends to “lead the charge with other industry leaders” in supporting candidates advocating for complementary regulation of the industry in 2024.

Expressing concerns about regulatory overreach, particularly from the SEC, Garlinghouse emphasized the need for the U.S. to avoid moving in the wrong direction.

The Ripple CEO highlighted the advantage other countries are taking due to the perceived lack of U.S. leadership and called for the advancement of leaders who can champion innovation while navigating responsible regulation. Additionally, Garlinghouse stressed the importance of industry initiatives that promote transparency, innovation, and a compliance-first approach.

This aligns with an earlier message from Dec. 14, where Ben Horowitz stated that all donations will exclusively support candidates aligned with their views and oppose those seeking to hinder America’s technological progress.

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