According to ChainCatcher news and a report from CoinDesk, Coinbase CEO Brian Armstrong and other leaders in the cryptocurrency industry saw their wealth grow by billions in the political activities of 2024, despite their significant financial support for pro-cryptocurrency candidates. Coinbase's political action committee Fairshake invested approximately $74 million in the elections, helping several candidates win. After the election, Armstrong earned an additional $129 million through stock sales, with the value of his holdings in the company rising by more than $2 billion.
Ripple Labs CEO Brad Garlinghouse and Andreessen Horowitz each invested $73 million and $70 million respectively to promote reforms in cryptocurrency policy. It is reported that Garlinghouse owns more than 6% of Ripple and a significant amount of undisclosed XRP tokens. This election tripled the value of Garlinghouse's XRP holdings, and his personal wealth is expected to have increased significantly as a result. On the other hand, a16z co-founders Mark Andreessen and Ben Horowitz hold substantial stakes in cryptocurrency companies, and their holdings are expected to have surpassed the funds they invested in American politics after the election.
