Ripple Labs has donated $25 million to the pro-crypto Super PAC Fairshake, intensifying its influence in Washington, D.C. The funds aim to support lawmakers supporting digital asset growth, innovation, and comprehensive regulation. This is XRP’s third $25 million donation to Fairshake in the past year.
Strengthening Crypto Advocacy in U.S. Politics
Ripple Labs supports pro-innovation legislation and crypto-friendly policies, so the company is pushing for crypto-friendly rules. Ahead of the 2024 election cycle, Fairshake — the biggest Super PAC of the 2024 cycle — has already demonstrated its political might. OpenSecrets found that Fairshake-backed candidates scored 90 percent of the races they ran for in Congress.
Ripple’s CEO Brad Garlinghouse called Fairshake’s developments historic.
“Fairshake is the most successful multi-candidate, bipartisan Super PAC in American history,” Garlinghouse said on X. He emphasized Ripple’s ongoing commitment to electing “pro-crypto, pro-growth, and pro-innovation” lawmakers.
But Fairshake’s growing war chest has drawn some high-profile donors, such as Coinbase and a16z, each pledging $25 million and $23 million, respectively. XRP proves that it still is among the strongest supporters of digital asset legislation. Ripple’s Chief Legal Officer Stuart Aldertory noted the company’s longstanding commitment: ‘Innovation is here to stay, and we are here to stay as a strong force in DC for many years to come.’
Fairshake is the most successful multi-candidate, bipartisan Super PAC in American history.
Electing pro-crypto, pro-growth and pro-innovation candidates is a no-brainer, and to continue that momentum, Ripple is contributing another $25M to Fairshake. Onwards!
— Brad Garlinghouse (@bgarlinghouse) November 26, 2024
Ripple’s Role in Shaping Regulatory Frameworks
This sees Ripple’s voice chiming in with its calling for digital assets to be regulated, for example. For years, the company has urged Congress to regulate cryptocurrencies. This is by far its latest donation, which shows its efforts to strategically influence lawmakers and back policies that will serve the crypto industry well.
The success of well-funded advocacy efforts in the 2024 election cycle was a good sign for Fairshake. The Super PAC had raised over $200 million during the last cycle and played a big part in shaping legislative outcomes. Ripple’s investment continues to reinforce momentum for future elections.
XRP supported Fairshake early, and Stuart Aldertory noted its vision for long-term impact.
“When Fairshake first started, Ripple committed to being a top-tier supporter,” Aldertory stated.
He said Ripple will be actively engaged with Washington to promote innovation and growth in the space.
Crypto PAC Fairshake Builds Bipartisan Political Power
With Ripple’s latest donation, Fairshake is well-positioned to help play a prominent role in the 2026 midterm elections. The next cycle already gives it $73 million to spend: It’s an immense and potent political force. That bipartisan approach has helped Fairshake build credibility and clout among lawmakers of both parties.
It is a sign that Ripple is betting on garnering broad support from both sides of the aisle for crypto-friendly policies. Ripple wants to ensure that politics favours the industry as it is by investing in pro-crypto candidates in Congress. This path can help to see positive results in digital asset regulation in the coming years.
This shows that the crypto industry is gaining more political power and helps candidates win by offering a fair shake. XRP’s significant support for these efforts continues to underscore it as a major player in the push for full regulatory reform. Fairshake has nearly unlimited resources and proven success and will shape forthcoming legislative outcomes.
Stay tuned to The BIT Journal and keep an eye on Crypto’s updates. Follow us on Twitter and LinkedIn, and join our Telegram channel to be instantly informed about breaking news!
