Coinbase, a16z, Ripple pour millions into Fairshake crypto lobbying group
As U.S. elections gear up, crypto businesses funnel funds into a political action committee, backing crypto -friendly candidates. Crypto exchange Coinbase, venture firms Andreessen Horowitz (a16z) and Electric Capital, as well as fintech company Ripple, have collectively contributed tens of million s of dollars to the Fairshake political action committee (PAC) in a bid to exert influence on U.S. policymakers and support crypto -friendly candidates, Bloomberg reports. According to statements from Josh Vlasto, a spokesperson for the PAC, Coinbase’s chief executive officer, Brian Armstrong, has personally donated $1 million to Fairshake, while Coinbase as a company has injected an additional $24.5 million into the lobbying group. Bloomberg’s report indicates that Armstrong and Coinbase together account for approximately one-third of the total $85 million raised by the PAC thus far. But the U.S.-based crypto exchange is not alone in its efforts to support crypto-loyal candi...
