As of January 31, Coinbase and Ripple stand out as major contributors to a super PAC dedicated to supporting pro-crypto politicians, as reported by Bloomberg.
According to spokesperson Josh Vlasto, Coinbase has allocated $24.5 million to Fairshake, with an additional personal contribution of $1 million from Coinbase CEO Brian Armstrong. These donations collectively represent about one-third of Fairshake’s total funds, amounting to $85 million.
Furthermore, Ripple has made a significant contribution of $20 million to Fairshake, as disclosed by Vlasto. Notably, venture capital firms Andreessen Horowitz (a16z) and Electric Capital have also played a role, contributing $20 million and $500,000, respectively.
Additional details about Fairshake’s donors are expected to be disclosed in an upcoming filing with the U.S. Federal Election Commission, according to Bloomberg’s report.
The exact donation amounts from the companies have not been officially confirmed.
While none of the mentioned companies have officially disclosed their donation figures, Coinbase acknowledged both its own contribution and that of CEO Armstrong to Fairshake in a December blog post. At that time, Fairshake had reported a fundraising total of $78 million. Coinbase further noted additional contributors, including Circle, Kraken, Ark Invest, and the founders of Gemini, Cameron and Tyler Winklevoss.
Collin McCune, head of government affairs at Andreessen Horowitz, commented to Bloomberg today, emphasizing the importance of supporting bipartisan candidates with long-term perspectives in developing clear regulatory frameworks for blockchain technology and digital assets. However, McCune did not verify the reported donation amount.
Fairshake is aligned with and provides support to both major political parties.
Fairshake endorses pro-cryptocurrency candidates from both major political parties, with a slight preference for Democratic candidates based on the latest information.
According to OpenSecrets data, Fairshake has allocated $700,000 across 13 Democratic candidates and $551,000 across eight Republican candidates.
Bloomberg highlighted that Fairshake’s significant expenditures have been directed towards Republican Representative Patrick McHenry, a key figure in crypto legislation who is slated to retire in January 2025. Notable funding has also been directed to Republican Representative Tom Emmer, as well as Democratic Representatives Josh Gottheimer and Ritchie Torres.