TLDR:
- US pro-crypto super PAC Fairshake receives $25 million from Andreessen Horowitz and a previous $25 million from Ripple.
- The contributions are aimed at supporting candidates from both parties in the U.S. elections and promoting clear rules for digital assets.
Fortune continues to shine on the United States pro-crypto super PAC Fairshake as it receives a generous donation of $25 million from Andreessen Horowitz on May 30, following a $25 million contribution from Ripple the day before. With this latest funding, Andreessen Horowitz’s total giving to Fairshake and its affiliated PACs has reached $47 million in two years. The aim of these contributions is to support candidates from both sides of the aisle to advance the interests of American entrepreneurs and advocate for clear regulations for digital assets. This move comes as the crypto industry seeks bipartisan support ahead of the November U.S. elections.
Andreessen Horowitz’s venture into political contributions began in December, focusing on supporting pro-crypto and pro-AI candidates in the elections. The venture capital firm, which has invested over $7.6 billion in the crypto industry since 2013, believes that high-quality regulation can foster industry growth while protecting consumers.
Fairshake, which has raised $135 million in contributions, has primarily used its funds for negative advertising against Democratic candidates. The super PAC has yet to disclose its support for specific candidates in upcoming races, such as the Senate race in Massachusetts between crypto lawyer John Deaton and vocal crypto opponent Elizabeth Warren. Fairshake spokesman Josh Vlasto confirmed the recent contributions from Ripple and Andreessen Horowitz but declined to provide further details.
Overall, the contributions from Andreessen Horowitz and Ripple highlight the growing influence of the crypto industry in U.S. politics and its efforts to shape regulatory frameworks that support innovation while safeguarding consumers.
