PANews reported on May 30 that according to CoinDesk, Andreessen Horowitz (a16z) donated $25 million to the US political action committee (PAC) of the crypto industry, according to an announcement released on Thursday, bringing the total fundraising of some of the most well-known companies in the cryptocurrency industry to approximately $136 million, and potentially elevating the industry to the upper echelons of campaign donors.
As a16z Crypto head Chris Dixon prepared to take the stage at CoinDesk’s Consensus 2024 conference, his firm announced its latest donation to the Fairshake PAC, according to a spokesperson. This puts a16z and Ripple on a par as major backers of Fairshake and its affiliates. The two firms have each invested nearly $50 million, followed by Coinbase Inc.
If a16z’s Marc Andreessen and Ben Horowitz were treated as individuals (as they describe in Federal Election Commission filings), their donations would put them among the top 10 current list of individual campaign donors in the U.S., according to a ranking maintained by OpenSecrets.org.
