Ripple has reaffirmed its dedication to fostering innovation-friendly policies by contributing $25 million to Fairshake, a bipartisan Super PAC supporting pro-crypto candidates. CEO Brad Garlinghouse described the group as a vital force in advancing pro-growth policies in Washington, D.C., stating:
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!
This marks Ripple’s third $25 million donation to Fairshake, reflecting its long-term commitment to shaping the regulatory landscape.
Ripple’s general counsel, Stuart Alderoty, highlighted the crypto firm’s early support of Fairshake, noting its critical role in strengthening the digital asset industry’s voice in the political arena. “When Fairshake first started, Ripple committed to being a top-tier supporter; before anyone knew what impact it might have.” He added:
Now, we’re making our third $25M contribution in as many years to the most successful PAC in U.S. history. Innovation is here to stay, and we will remain a strong force in D.C. for years to come.
The funding aligns with Ripple’s broader push to challenge regulatory overreach, as Alderoty also criticized the U.S. Securities and Exchange Commission (SEC) for overstepping its bounds. “This week’s federal court rulings striking down the SEC’s dealer rule and Treasury’s sanctions on Tornado Cash share a theme: Regulators don’t make law; they enforce it as written,” Alderoty said. Ripple’s dual approach of funding advocacy and contesting excessive regulation positions it as a leader in the fight for a fair, innovation-driven regulatory framework.
The U.S. SEC is undergoing a significant leadership shift as Chair Gary Gensler and Commissioner Jaime Lizárraga announce their resignations, both effective in January 2025. Gensler, who has been at the helm since 2021, made headlines for his regulation-by-enforcement approach to regulating the cryptocurrency industry, leading high-profile cases against major players like Binance and Coinbase. Lizárraga’s resignation adds to the change, with the Commissioner citing personal reasons for his departure. These developments are poised to reshape the SEC’s approach, particularly as a new administration prepares to appoint successors who may steer regulatory policies in a different direction.
