Coinbase Donates $25 Million to Fairshake to Defeat 'Anti-Crypto Candidates' - Decrypt
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Coinbase Donates $25 Million to Fairshake to Defeat 'Anti-Crypto Candidates'
Fairshake has nearly doubled its fundraising haul in recent weeks, to $160 million, following donations from Coinbase, Ripple, and Andreessen Horowitz. Coinbase, America’s dominant crypto exchange, announced Monday that it
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Summary
- Coinbase has donated $25 million to Fairshake, a political action committee (PAC) aimed at defeating "anti-crypto candidates" in the 2024 election.
- Fairshake has raised a total of $160 million, with contributions from Coinbase, Ripple, and Andreessen Horowitz.
- This makes Fairshake one of the largest PACs attempting to influence the outcome of the November election.
- The recent donations from Coinbase, Ripple, and Andreessen Horowitz have nearly doubled Fairshake's war chest in a matter of days.
- The donations come at a time when the crypto industry is receiving significant attention from presidential candidates and federal legislators.
Top Highlights
- Coinbase Donates $25 Million to Fairshake to Defeat 'Anti-Crypto Candidates' Fairshake has nearly doubled its fundraising haul in recent weeks, to $160 million, following donations from Coinbase, Ripple, and Andreessen Horowitz.
- Coinbase, America’s dominant crypto exchange, announced Monday that it has donated an additional $25 million to industry political action committee (PAC) Fairshake in the latest escalation of crypto-related spending on the 2024 election.
- That spend brings Fairshake’s total haul this cycle to $160 million, making it one of the largest PACs attempting to influence the outcome of November’s election. In fact, only ActBlue and WinRed—the primary payment processors for the Democratic and Republican parties, respectively—show larger hauls this cycle, according to OpenSecrets. Coinbase...
- Paired with last week's contributions, today's donation has nearly doubled the size of Fairshake’s war chest in a matter of days. They also come at a particularly lively political moment for crypto, in which presidential candidates and federal legislators alike have focused near-unprecedented attention on the industry, both positive and negative. ...
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