2024

America

Capitol

Andreessen Horowitz’s digital asset division, a16z crypto, announced it would allocate $23 million to support digital asset policy formation after the U.S. general elections.
A16z managing partner Chris Dixon <a href="https://a16zcrypto.com/posts/article/a-long-term-view-of-crypto-policy/" target="_blank" rel="noopener noreferrer nofollow">disclosed</a> that the venture capital giant would contribute additional funds to crypto-focused Fairshake and its affiliated PACs for the 2026 U.S. mid-terms. Dixon explained that the firm’s decision stems from a non-partisan, long-term view on cryptocurrency policy in Washington and a commitment to supporting pro-blockchain politicians.
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 Regardless of what happens in the 2024 elections, we’re committed to supporting policymakers, irrespective of party affiliation, who will work to establish a practical regulatory framework that protects consumers while allowing the industry to grow.
 Chris Dixon.
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Dixon added that a16z aims to challenge efforts to “box out Congress from regulating crypto.” The firm will support this stance with meetings on Capitol Hill to advocate for blockchain’s benefits, Dixon wrote in a blog post.
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 Today we’re contributing over $23m in additional funds to Fairshake and its affiliated PACs for the 2026 midterm election cycle. No matter what happens on Election Day we are taking a long-term approach to our policy efforts. Contributing to Fairshake is just one important…— cdixon.eth (@cdixon) <a href="https://twitter.com/cdixon/status/1853439046691008579?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">November 4, 2024</a>
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You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/crypto-wins-in-the-2024-us-elections-opinion/"> How crypto wins the people’s vote: Lessons from the 2024 US elections | Opinion </a>
Many digital asset advocates argue that agencies like the Securities and Exchange Commission and the U.S. Treasury Department have bypassed clear rule-making processes in favor of arbitrary enforcement actions and crackdowns.
Fairshake has <a href="https://crypto.news/crypto-super-pac-fairshake/" target="_blank" rel="noopener noreferrer nofollow">become</a> one of crypto’s preferred super PACs during the 2024 election cycle as the industry seeks to challenge the status quo and push for reasonable regulations. Firms such as a16z, Coinbase, Gemini, and Ripple have <a href="https://crypto.news/coinbase-a16z-ripple-pour-millions-into-fairshake-crypto-lobbying-group/" target="_blank" rel="noopener noreferrer nofollow">invested</a> millions in Fairshake’s bipartisan lobbying efforts to elect crypto-friendly legislators across various states.
The crypto industry has outspent every other sector this election, <a href="https://crypto.news/crypto-donations-for-2024-u-s-election-hit-190m/" target="_blank" rel="noopener noreferrer nofollow">donating</a> over $190 million to candidates from both parties. Reports <a href="https://crypto.news/fairshake-to-spend-25m-on-ads-for-18-us-house-candidates/" target="_blank" rel="noopener noreferrer nofollow">suggest</a> that Congressional contests have captured the bulk of crypto’s election cash.
As such, industry leaders like Coinbase CLO Paul Grewal <a href="https://crypto.news/a-pro-crypto-congress-is-coming-coinbase-clo/" target="_blank" rel="noopener noreferrer nofollow">opined</a> that America would witness its first pro-crypto congress, regardless of who sits in the White House.
Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/the-real-winner-of-the-2024-us-elections-will-be-crypto-opinion/"> Opinion The real winner of the 2024 US elections will be crypto | Opinion </a>

A16z pledges $23m to Fairshake for 2026 mid-terms

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