Blockchain payments firm Ripple, one of the biggest backers of the political action committee (PAC) Fairshake, has announced another significant contribution toward efforts to influence United States elections.
Ripple donated $45 million to the PAC before the 2024 elections, making it one of Fairshake’s biggest contributors, alongside cryptocurrency exchange Coinbase, Jump Crypto and Andreessen Horowitz.
The PAC says it supports candidates “on both sides of the aisle.” However, the November US election resulted in Republicans taking control of the presidency with a majority in the Senate and House of Representatives, a trifecta win that the party hasn’t had since 2017.
What’s next for the crypto industry influencing US elections?
During the 2024 election cycle, Garlinghouse did not appear to have contributed directly to Donald Trump’s presidential campaign or supportive PACs but made statements claiming the Republican would “make crypto great again” in the US.
The next US midterm elections will be held on Nov. 3, 2026. All 435 seats in the House of Representatives and 33 in the Senate will be up for grabs.