Fairshake, the leading super Political Action Committee (PAC) dedicated to advocating for the digital assets industry, has announced it has raised an unprecedented $193 million war chest. This massive fundraising effort positions the cryptocurrency industry as a significant electoral force heading into the November midterms and general election. The fund significantly surpasses previous PAC efforts related to technology or specific financial sectors. The overwhelming majority of the funds have been contributed by major industry giants, including Coinbase, Ripple, Andreessen Horowitz (a16z) Crypto, Kraken, and Gemini, signaling a unified and aggressive push for legislative clarity.
Fairshake’s primary strategy is to deploy these resources to support candidates—across both Republican and Democratic parties——who demonstrate a commitment to clear regulatory frameworks for cryptocurrency and blockchain technology. The PAC intends to use the capital for high-impact advertising campaigns, voter education drives, and direct support for races crucial to shaping the next Congress. The objective is to push back against what the industry perceives as overly aggressive and unclear regulatory actions by agencies like the Securities and Exchange Commission (SEC), and instead, promote the passage of comprehensive federal legislation that ensures the United States remains competitive in the global crypto landscape. This substantial financial commitment guarantees that regulatory policy surrounding digital assets will be a defining and highly visible issue throughout the remainder of the 2024 election cycle.
Source: Crypto PAC Fairshake amasses $193 million war chest ahead of November midterms
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