The Fairshake political action committee (PAC) disclosed a notable $78 million funding, backed by prominent industry figures like Coinbase CEO Brian Armstrong, the Winklevoss twins, Circle, Kraken, Messari, and Andreessen Horowitz (a16z). This fund aims to support candidates advocating for crypto and blockchain innovation and balanced regulation in the upcoming 2024 elections.
Ripple CEO Brad Garlinghouse voiced discontent about regulatory overreach in the U.S. and highlighted Ripple’s commitment, alongside other industry leaders, to endorse “pro-crypto” candidates in the 2024 U.S. elections. Emphasizing the importance of championing innovation, Garlinghouse urged for responsible regulation fostering transparency and compliance.
Chris Dixon, the founder of Andreessen Horowitz (a16z), affirmed the firm’s contribution to Fairshake PAC in 2024, highlighting the battle in Washington over blockchain’s future. He underscored the need for a middle ground that neither bans nor leaves blockchain unregulated, enabling its full potential and shifting internet control from Big Tech to its users.
U.S. cryptocurrency firms have grappled with regulatory challenges, particularly from the SEC, drawing criticism for its enforcement-focused regulatory approach.
