Ripple adds US$25 mln for crypto-friendly PAC – Crypto News – Crypto News
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Ripple adds US$25 mln for crypto-friendly PAC – Crypto News

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11 months ago

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Ripple Labs has pledged US$25 million to pro-cryptocurrency political action committee (PAC), Fairshake, matching last year’s total.

This raises Ripple’s total commitment to Fairshake to US$50 million.

Fairshake PAC’s resources now surpass US$102 million, positioning it to support candidates who acknowledge the impact of cryptocurrencies.

Other industry giants, including Coinbase, Andreessen Horowitz, and the Winklevoss twins, have also made substantial contributions, forming a formidable alliance to challenge the Securities and Exchange Commission’s (SEC) current enforcement-centric regulatory approach.

This approach has been criticized as a hindrance to the U.S.’s ability to compete in the international cryptocurrency market.

“Ripple will not – and the crypto industry should not – keep quiet while unelected regulators actively seek to impede innovation and economic growth that millions of Americans utilize,” Ripple CEO Brad Garlinghouse said in a press release on Wednesday.

The infusion of funds from Ripple is part of a broader initiative by the cryptocurrency sector to influence the forthcoming elections, which are considered critical for the future of blockchain and fintech.

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