On December 9th, Ripple Labs CEO Brad Garlinghouse discussed the impact of the political action committee on the US presidential election. He stated that if US SEC Chairman Gary Gensler does not actively regulate cryptocurrency, the Fairshake political action committee, which is primarily funded by the cryptocurrency industry, may not exist during the 2024 US election.
He pointed out that Fairshake is a joint response to the "cryptocurrency war" because during Gensler's tenure, the SEC has significantly increased its regulatory crackdown. The agency has filed more than 120 lawsuits against cryptocurrency companies, including Ripple Labs, Uniswap, Terraform Labs, Coinbase, Binance, and Kraken, for violating securities laws. Garlinghouse said that law enforcement actions have created an unexpected unity within the cryptocurrency industry, leading to the creation of this PAC. (crypto.news)
