Ripple, Coinbase, Kraken Raises $78M To Elect Pro-Crypto Candidates

Crypto firms including Ripple, Coinbase, Kraken and individuals Brian Armstrong, Fred Wilson, and Winklevoss twins are donating millions to elect pro-innovation and pro-crypto political candidates going into 2024 congressional elections.

The crypto industry will be making an effort to elect a pro-crypto president who will help bring regulatory clarity and prevent irrational SEC complaints.

Crypto Leaders Such as Ripple & Coinbase Raise Over $78 Million

Crypto and blockchain leaders have raised over $78 million to support the election of pro-crypto candidates and the enactment of policies that support responsible and fair rules.

According to a Coinbase blog, merely 9% of Americans are satisfied with the current system and the donation ensures support to the 52 million Americans holding digital assets and want a fair shake at the American Dream.

Fairshake Super PAC announced their fundraising efforts for political candidates in the forthcoming congressional 2024 elections.

The list of supporters includes Andreessen Horowitz, Ark, Brian Armstrong, Blockchain Capital, Wences Casares, Circle, Coinbase, Ron Conway, Cumberland, Framework Ventures, Hunter Horsley, Jump Crypto, Kraken, Lightspark, Messari, Multicoin Capital, Paradigm, Potter Ventures, Ripple, Fred Wilson, Cameron Winklevoss, and Tyler Winklevoss.

Ripple CEO Brad Garlinghouse took to X to announce that the company is leading the charge with other industry leaders to support pro-innovation and pro-crypto candidates. He added that the U.S. can not afford to lose in global innovation race.

He blamed the U.S. government and regulators, especially the SEC, for regulatory overreach pushing the crypt industry out of the U.S., with other countries taking benefit of it.

“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,” he said.

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