Crypto Giants Pool $78M to Influence US Elections

Ripple, Coinbase, a16z, and other prominent cryptocurrency companies and investors have pledged a total of $78 million to support the Fairshake political action committee (PAC) in the upcoming 2024 US elections. The PAC aims to back pro-cryptocurrency candidates who support American crypto and blockchain innovation and responsible regulation. This move comes as the industry faces regulatory challenges and seeks to promote transparency, innovation, and a compliance-first approach. The coalition aims to raise funds to support the PAC and advocate for clear rules of the road to foster technological innovation and combat bad actors.