Republican

2024

Ripple Labs, a popular blockchain payments firm, has again supported Fairshake, a Super Political Action Committee (PAC). 
Notably, Ripple’s CEO Brad Garlinghouse has pledged to donate $25 million to Farshake to support the election of pro-crypto candidates. Ripple’s contribution to Fairshake comes as the firm navigates regulatory challenges in the US. 
<h2 class="wp-block-heading" id="h-the-ripple-and-fairshake-alliance">The Ripple and Fairshake Alliance</h2> 
Ripple Chief Legal Officer Stuart Alderoty emphasized in an X post that the firm has a long-standing relationship with Fairshake. 
Alderoty disclosed that Ripple pledged to continually support Fairshake at its inception before anyone realized the impact it may have. 
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He claimed the new $25 million donated to Faishake is Ripple’s third contribution to support the committee’s vision, stating, 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 “Innovation is here to stay, and we will remain a strong force in DC for years to come.” 
</blockquote> 
Fox Business journalist Eleanor Terrett has confirmed Ripple’s $25 million donation to Fairshake. She said the PAC now has $103 million for the 2026 midterm elections in the US. 
According to Eleanor, this fund was created thanks to contributions from Ripple, Coinbase, a16z, and leftover funds from the November 5 election. 
Before the 2024 elections, Ripple gave the PAC $45 million, making it one of Fairshake’s largest donors. 
<h2 class="wp-block-heading" id="h-impact-of-fairshake-on-us-elections">Impact of Fairshake on US Elections</h2> 
Notably, Fairshake is a political action committee focused on supporting crypto-friendly House candidates. Fairshake believes establishing clear crypto regulation is vital for the growth of the US blockchain economy. 
During the last US general elections, the PAC spent millions of dollars on television advertisements for House candidates. Coinbase Global CEO Brian Armstrong supported the PAC by pledging to donate $1 million. So far, Coinbase has donated $15.5 million to the PAC. 
The Winklevoss twins are another major supporter of Fairshake. Gemini’s founders, Tyler and Cameron Winklevoss, each <a href="https://www.thecoinrepublic.com/2024/02/22/winklevoss-twins-invested-4-9-million-in-crypto-pac-fairshake/">contributed</a> about $2.45 million to the Fairshake PAC in February 2024. 
The PAC says it supports pro-crypto Republican and Democratic candidates. For instance, Fairshake poured $12 million into the 2024 Ohio Senate race to unseat Democratic candidate Sherrod Brown. 
The Committee’s support for both parties has raised <a href="https://www.thecoinrepublic.com/2024/08/15/fairshake-pac-invests-3m-in-democrats-angers-gop/">concerns</a> among GOP leaders that this may anger some key backers. 
However, in the recent election, Republicans won a majority in the Senate and House of Representatives and took control of the presidency. This is a trifecta victory that the party has yet to achieve since 2017. 
<h2 class="wp-block-heading" id="h-ripple-and-regulatory-hurdle-avenue-to-make-changes">Ripple and Regulatory Hurdle, Avenue to Make Changes</h2> 
It is still unclear what effect this Republican victory might have on crypto legislation. However, some stakeholders believe that Congress will prioritize the establishment of clear crypto and stablecoin legislation in the future. 
For Ripple, this could bring its long-standing legal battle with the US Securities and Exchange Commission (SEC) to an end. 
Notably, Garlinghouse did not appear to have donated directly to Donald Trump’s presidential campaign or supported PACs during the 2024 election cycle. Ripple Chairman Chris Larsen, on the other hand, donated to Kamala Harris’ campaign. 
He, however, made statements claiming the Republicans would “make crypto great again” in the United States. 
Thus, his latest support for the Faishake PAC is likely an avenue to make changes. The crypto market will watch to see what this new alliance will birth for both Ripple and the broader ecosystem. 
The post <a href="https://www.thecoinrepublic.com/2024/11/27/ripple-labs-commits-25m-to-support-crypto-fairshake-pac/">Ripple Labs Commits $25M To Support Crypto Fairshake PAC</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.

Ripple Labs Commits $25M To Support Crypto Fairshake PAC

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