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Ripple Donates $25M to Fairshake PAC, Total Funding Over $110M
May 29, 2024, 09:01 AM
Ripple has made a significant contribution to the pro-crypto political action committee Fairshake, donating an additional $25 million. This brings Fairshake's total funding to over $110 million ahead of the 2024 U.S. elections. The financial backing, which includes contributions from other affiliates, signals strong support for crypto-friendly legislation. TD Cowen suggests this financial influence could boost the passage of stablecoin-related bills. Ripple is now Fairshake's largest donor.
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High influence - Major legislation passed • 25%
Moderate influence - Some discussions but no major legislation • 25%
Low influence - No significant legislative outcomes • 25%
Negative influence - Backlash and stricter regulations • 25%
0 • 20%
1-2 • 20%
3-5 • 20%
6-10 • 20%
More than 10 • 20%
0 states • 25%
1-3 states • 25%
4-6 states • 25%
More than 6 states • 25%
1-5 states • 34%
6-10 states • 33%
More than 10 states • 33%
Stablecoin Regulation • 33%
Cryptocurrency Taxation Laws • 33%
None • 34%
Yes • 50%
No • 50%
Influenced election in favor of a pro-crypto candidate • 25%
No noticeable influence on the election outcome • 25%
Backlash against crypto interests due to PAC funding • 25%
Increased regulatory scrutiny on crypto • 25%