{"id":393419,"date":"2024-02-01T01:00:41","date_gmt":"2024-02-01T01:00:41","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=393419"},"modified":"2024-01-31T23:16:39","modified_gmt":"2024-01-31T23:16:39","slug":"coinbase-has-donated-25m-to-crypto-super-pac-fairshake-ripple-has-given-20m","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/coinbase-has-donated-25m-to-crypto-super-pac-fairshake-ripple-has-given-20m\/","title":{"rendered":"Coinbase has donated $25M to crypto super-PAC Fairshake; Ripple has given $20M"},"content":{"rendered":"<p><a href=\"https:\/\/cryptoslate.com\/companies\/coinbase\/\">Coinbase<\/a> and <a href=\"https:\/\/cryptoslate.com\/companies\/ripple\/\">Ripple<\/a> are among the largest donors to a super PAC that aims to support pro-crypto politicians, Bloomberg reported on <a href=\"https:\/\/www.bnnbloomberg.ca\/coinbase-and-its-ceo-prep-war-chest-for-pro-crypto-politicians-1.2029061\">Jan. 31<\/a>.<\/p>\n<p>Coinbase has contributed $24.5 million to Fairshake, PAC spokesperson Josh Vlasto told Bloomberg. Coinbase CEO <a href=\"https:\/\/cryptoslate.com\/people\/brian-armstrong\/\">Brian Armstrong<\/a> has also personally given $1 million to the PAC. Those donations make up about one-third of the $85 million that Fairshake has raised to date, according to the report.<\/p>\n<p>Vlasto additionally told Bloomberg today that <a href=\"https:\/\/cryptoslate.com\/companies\/ripple\/\">Ripple<\/a> has donated $20 million to Fairshake. Two VC firms \u2014 <a href=\"https:\/\/cryptoslate.com\/companies\/a16z\/\">Andreessen Horowitz<\/a> (a16z) and Electric Capital \u2014 have donated $20 million and $500,000 respectively.<\/p>\n<p>Bloomberg said that more information about Fairshake's donors will be revealed in an upcoming filing with the U.S. Federal Election Commission.<\/p>\n<h2>Firms have not confirmed donation amounts<\/h2>\n<p>Though none of the above companies have confirmed their donation amounts publicly, Coinbase acknowledged that both it and Armstrong had contributed to Fairshake in a <a href=\"https:\/\/www.coinbase.com\/blog\/crypto-industry-donates-over-usd78-million-to-elect-pro-innovation\">blog post<\/a> published in December.<\/p>\n<p>Coinbase said that Fairshake had raised just $78 million at the time. It added that Circle, Kraken, Ark Invest, and Gemini founders Cameron and Tyler Winklevoss were among the super-PAC's numerous other donors.<\/p>\n<p>Bloomberg also obtained a comment from Collin McCune, head of government affairs at Andreessen Horowitz today. McCune said that supporting bipartisan candidates with long views is an &#8220;important part of ensuring that clear rules of the road are developed for blockchain technology and digital assets.&#8221; The representative did not confirm the reported donation amount, however.<\/p>\n<h2>Fairshake supports both major parties<\/h2>\n<p>Fairshake supports pro-cryptocurrency political candidates on both sides of the political aisle but has slightly favored Democratic candidates so far.<\/p>\n<p>Current data from OpenSecrets <a href=\"https:\/\/www.opensecrets.org\/outside-spending\/detail\/2024?cmte=C00835959&tab=targeted_candidates\">indicates that<\/a> Fairshake has spent $700,000 on 13 Democratic candidates and $551,000 on eight Republican candidates.<\/p>\n<p>Bloomberg noted that Fairshake's largest spending to date has gone toward Republican Representative <a href=\"https:\/\/cryptoslate.com\/people\/patrick-mchenry\/\">Patrick McHenry<\/a>, a lawmaker extensively involved in crypto legislation who is <a href=\"https:\/\/cryptoslate.com\/pro-crypto-lawmaker-patrick-mchenry-to-retire-from-congress\/\">set to retire<\/a> in January 2025. Other funding has notably gone toward Republican Representative <a href=\"https:\/\/cryptoslate.com\/people\/tom-emmer\/\">Tom Emmer<\/a> and Democratic Representatives Josh Gottheimer and <a href=\"https:\/\/cryptoslate.com\/democratic-congressman-ritchie-torres-calls-genslers-sec-arbitrary-and-capricious\/\">Ritchie Torres<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Coinbase and Ripple are among the largest donors to a super PAC that aims to support pro-crypto politicians, Bloomberg reported on Jan. 31. Coinbase has contributed $24.5 million to Fairshake, PAC spokesperson Josh Vlasto told Bloomberg. Coinbase CEO Brian Armstrong has also personally given $1 million to the PAC. Those donations make up about one-third [&hellip;]<\/p>\n","protected":false},"author":1403,"featured_media":366063,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[77644],"tags":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Coinbase has donated $25M to crypto super-PAC Fairshake; Ripple has given $20M<\/title>\n<meta name=\"description\" content=\"Coinbase and Ripple are among the largest donors to a super-PAC that aims to support pro-crypto politicians, Bloomberg reported on Jan. 31.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/coinbase-has-donated-25m-to-crypto-super-pac-fairshake-ripple-has-given-20m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Coinbase has donated $25M to crypto super-PAC Fairshake; 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