The cryptocurrency industry has gathered $78 million for a powerful super political action committees (PACs), aiming to bolster the chances of crypto-friendly legislation.
The funds predominantly come from major figures in the cryptocurrency space, including Coinbase, Kraken, Andreessen Horowitz, and Gemini crypto exchange founders Cameron and Tyler Winklevoss.
Fairshake, the cryptocurrency super PAC, says it raised the $78 million in the last three months, and has donated to influential political figures like House Financial Services Committee Chair Patrick McHenry and Majority Whip Tom Emmer, both Republicans who are helping shape crypto legislation.
The cryptocurrency industry has so far already outspent the amount other industries, including oil and gas and nonprofits, spent on PACs in the 2021-2022 election cycle.
The crypto super PAC has been donating to both Democrats and Republicans as it aims to ensure “pro-responsible regulation to foster the industry in the United States.”
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- Source: https://www.cryptocompare.com/email-updates/daily/2023/dec/20/
