Benzinga - In a significant push for cryptocurrency advocacy in the U.S., the Fairshake Super PAC, representing the national crypto community, raised more than $78 million to support pro-crypto candidates in the 2024 elections.
This substantial fund received contributions from 20 companies and influential industry figures, underscoring the growing momentum behind the need for fair and responsible crypto regulations in the U.S.
The Fairshake Super PAC's fundraising efforts were bolstered by notable contributions from companies and individuals such as Andreessen Horowitz, Ark, Coinbase Global Inc. (NASDAQ: COIN) CEO Brian Armstrong and Blockchain Capital.
Other key donors include Wences Casares, Circle (CRYPTO: USDC), Ron Conway, Cumberland, Framework Ventures, Hunter Horsley, Jump Crypto, Kraken, Lightspark, Messari, Multicoin Capital, Paradigm, Potter Ventures, Ripple (CRYPTO: XRP), and prominent investors Fred Wilson, Cameron Winklevoss and Tyler Winklevoss.
The initiative wants to support the interests of the 52 million Americans who own digital assets and seek a more equitable approach to financial systems, Coinbase stated in a blog.
Only 9% of Americans are reportedly satisfied with the current financial system, indicating a significant opportunity for crypto to offer an alternative solution.
In addition to monetary contributions, the Fairshake Super PAC emphasized the importance of grassroots support and public participation in the political process.
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The related "Stand with Crypto" movement wants to sign up 1 million members to advocate for fair crypto policies, with over 215,000 advocates already onboard.
The upcoming 2024 elections are viewed as pivotal for the future of cryptocurrency in the U.S., presenting a stark contrast between candidates who support modernizing the financial system and those who align with traditional, less accessible financial institutions.
Notably, a large segment of younger voters, disillusioned with the current financial system and the attainability of the American Dream, are likely to support candidates who are favorable to cryptocurrency.
Fairshake Super PAC encourages individuals to actively participate in local town hall meetings, contact their representatives, and use their voting power to influence the future of crypto regulation.
They also call for donations to support pro-innovation candidates and fair crypto policies.
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