Gemini

Patrick

United

Founders of <a href="https://crypto.news/tag/Gemini/" target="_blank" rel="noreferrer noopener">Gemini</a> exchange, Tyler and Cameron Winklevoss, have donated $4.9 million to the Fairshake political action committee (PAC). 
The <a href="https://crypto.news/tag/Winklevoss/" target="_blank" rel="noreferrer noopener">Winklevoss</a> twins have each donated $2.45 million to the Super PAC, according to the U.S. Federal Election Commission (FEC) and Fairshake’s latest <a href="https://docquery.fec.gov/pdf/824/202402209619869824/202402209619869824.pdf" target="_blank" rel="noreferrer noopener">federal filings</a> on Feb. 20. In total, it had $72.8 million in cash on hand at the end of the reporting period. 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="654" src="https://crypto.news/app/uploads/2024/02/Screenshot-2024-02-21-at-10.30.36-1024x654.png" alt="Winklevoss twins give out $4.9m to Fairshake crypto lobbying group - 13" class="wp-image-14250913">
 <figcaption class="wp-element-caption">
 Source: FEC filing
 </figcaption>
</figure> 
At the beginning of February, Fairshake, which actively supports politicians loyal to cryptocurrencies, <a href="https://crypto.news/coinbase-a16z-ripple-pour-millions-into-fairshake-crypto-lobbying-group/" target="_blank" rel="noreferrer noopener">raised</a> $85 million. The most prominent sponsors were crypto industry giants Coinbase and Ripple. 
 You might also like: <a href="https://crypto.news/nearly-90-of-california-crypto-owners-favor-pro-crypto-political-candidate-coinbase-reveals/"> Nearly 90% of California crypto owners favor pro-crypto political candidate, Coinbase reveals </a> 
According to PAC spokesman Josh Vlasto, Coinbase contributed $24.5 million. <a href="https://crypto.news/tag/coinbase/" target="_blank" rel="noreferrer noopener">Coinbase</a> CEO Brian Armstrong gave the PAC an additional $1 million. <a href="https://crypto.news/tag/Ripple/" target="_blank" rel="noreferrer noopener">Ripple</a> donated $20 million to Fairshake. Two venture capital firms, Andreessen Horowitz and Electric Capital, contributed $20 million and $500,000 respectively. 
Fairshake describes itself as supporting candidates “committed to making the United States home to the innovators building the next generation of the Internet.” Fairshake supports not only presidential candidates but also regional politicians. The project recently allocated most funds to support the U.S. House of Representatives Financial Services Committee chairman, <a href="https://crypto.news/crypto-friendly-lawmaker-takes-interim-house-speaker-position/" target="_blank" rel="noreferrer noopener">Patrick McHenry</a>. However, the politician soon announced his retirement in 2025. It is not yet known whether he returned the funds to the fund. 
 Read more: <a href="https://crypto.news/us-house-introduces-draft-of-legislation-for-stablecoins/"> US House introduces draft of legislation for stablecoins </a>

Winklevoss twins give out $4.9m to Fairshake crypto lobbying group

crypto.news

Other articles published on Feb 21, 2024

BNB Chain Provides Definitive 2024 Guide with “BNB Chain & the Web3 Blueprint” Brand Story (21 Feb)

Crypto Analysis: Internet Computer (ICP) is about to achieve a new high?

Ethereum ICO Whale Cashes Out After ETH Price Hits $3,000: Bearish?

VeChain Shows Signs of Bullish Reversal, Analysts Optimistic

Australian Interest in Crypto Investment Rises

Bitcoin Community Abuzz as Jeff Bezos Sells Amazon Stocks Worth Billions

Join our free newsletter for daily crypto updates!