{"id":454790,"date":"2024-11-26T19:30:28","date_gmt":"2024-11-26T19:30:28","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=454790"},"modified":"2024-11-26T18:58:01","modified_gmt":"2024-11-26T18:58:01","slug":"fairshake-pac-secures-103m-for-2026-midterm-elections-after-ripple-donation","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/fairshake-pac-secures-103m-for-2026-midterm-elections-after-ripple-donation\/","title":{"rendered":"Fairshake PAC secures $103M for 2026 midterm elections after Ripple donation"},"content":{"rendered":"<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/cryptoslate.com\/companies\/ripple\/\">Ripple<\/a> Labs donated $25 million to the Fairshake political action committee (PAC),<\/span> <strong><a href=\"https:\/\/x.com\/bgarlinghouse\/status\/1861418224782581966\">according<\/a><\/strong><span style=\"font-weight: 400;\"> to the firm\u2019s CEO <a href=\"https:\/\/cryptoslate.com\/people\/brad-garlinghouse\/\">Brad Garlinghouse<\/a>. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The donation<\/span><span style=\"font-weight: 400;\"><span style=\"box-sizing: border-box; margin: 0px; padding: 0px;\">, which adds to the $78 million Fairshake raised\u00a0<a href=\"https:\/\/cryptoslate.com\/coinbase-and-a16z-lead-78-million-fairshake-fund-to-shape-2026-midterm-elections\/\" target=\"_blank\" rel=\"noopener\"><strong>earlier this month,<\/strong><\/a> brings<\/span>\u00a0the total to $103 million.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The fund will boost Fairshake's contributions in the 2026 midterm elections, with <a href=\"https:\/\/cryptoslate.com\/companies\/coinbase\/\">Coinbase<\/a> pledging $25 million and <a href=\"https:\/\/cryptoslate.com\/companies\/a16z\/\">a16z<\/a> adding $23 million. The remaining $30 million was already available in the fund.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Notably, the amount<\/span> <strong><a href=\"https:\/\/cryptoslate.com\/majority-of-candidates-backed-by-pro-crypto-pacs-won-the-elections\/\">is over 76%<\/a><\/strong><span style=\"font-weight: 400;\"> of all money spent on pro-crypto candidates in this year's elections, surpassed only by fossil fuel interest in political contributions. The amount gathered by Fairshake indicates that investments in pro-crypto politicians could break a new record in 2026.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Additionally, the pro-crypto PAC, along with Protect Progress and Defend American Jobs, is part of a &#8220;super PAC&#8221; that rivals traditional heavyweights like Koch Industries and Chevron in size.\u00a0<\/span><span style=\"font-weight: 400;\">The investments had a positive result, with 48 candidates endorsed by pro-crypto PACs elected this year.\u00a0<\/span><\/p>\n<h2><strong>Continued efforts<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">The immediate wins yielded by these efforts are building increased influence for the crypto industry in Washington and could prompt other sectors to adopt similar strategies.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Garlinghouse stated:<\/span><\/p>\n<blockquote><p><strong>&#8220;Electing pro-crypto, pro-growth and pro-innovation candidates is a no-brainer, and to continue that momentum, Ripple is contributing another $25M to Fairshake. Onwards!&#8221;<\/strong><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">His statement aligns with political analysts like Peter Loge, a public affairs professor at George Washington University. Loge emphasized the need for sustained engagement, campaign after campaign.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Furthermore, Coinbase CEO <a href=\"https:\/\/cryptoslate.com\/people\/brian-armstrong\/\">Brian Armstrong<\/a> recently said that anti-crypto stances may prove costly, with this year's election results sending a clear message to Washington.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In a Nov. 4 statement, a Fairshake spokesperson said:<\/span><\/p>\n<blockquote><p><strong>&#8220;We have seen a transformational shift in how both parties look at crypto and blockchain. We look forward to continuing our strategy of supporting candidates on both sides of the aisle who believe in advancing American innovation, creating jobs, and working together to pass responsible regulation.&#8221;<\/strong><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">The crypto firms donating to the pro-crypto PAC are also keen to engage with lawmakers to foster blockchain growth in the US.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ripple Labs donated $25 million to the Fairshake political action committee (PAC), according to the firm\u2019s CEO Brad Garlinghouse. The donation, which adds to the $78 million Fairshake raised\u00a0earlier this month, brings\u00a0the total to $103 million. The fund will boost Fairshake&#8217;s contributions in the 2026 midterm elections, with Coinbase pledging $25 million and a16z adding [&hellip;]<\/p>\n","protected":false},"author":1511,"featured_media":454800,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,77644],"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>Fairshake PAC secures $103M for 2026 midterm elections after Ripple donation<\/title>\n<meta name=\"description\" content=\"Ripple Labs added $25 million to Fairshake&#039;s war chest, which already counted with donations from Coinbase and a16z.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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