• 15/07/2024 16:48

US presidential election: crypto companies allocated $78 million to candidates supporting Bitcoin

Coinbase, Ripple, Circle, Kraken and other representatives of the bitcoin market have allocated a total of $78 million in support of the political action committee Fairshake, which advocates for pro-cryptocurrency candidates for US President. ForkLog writes about this.

US presidential election: crypto companies allocated $78 million to candidates supporting Bitcoin

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Among other beneficiaries of the organization:

    Andreessen Horowitz (a16z); ARK Invest; Coinbase CEO Brian Armstrong; Blockchain Capital; Jump Crypto; Lightspark; Messari; Multicoin Capital; Paradigm; Ripple; The founders of Gemini are the Winklevoss brothers.

Ripple to lead fundraising

Ripple CEO Brad Garlinghouse said his company intends to “lead efforts with other industry leaders” to support candidates lobbying for digital asset regulation.

“The United States cannot afford to continue to remain in the background on the world stage. Over-regulation (especially by the SEC) is actively moving the jurisdiction in the wrong direction, and other countries are taking full advantage of the United States' lack of leadership,” he added.

In Garlinghouse's opinion, the industry needs to encourage initiatives that promote ” transparency, innovation and a compliance-focused approach.”

Which candidates support cryptocurrencies

According to Politico, Fairshake has endorsed 13 presidential candidates and has already spent $1.2 million on television advertising campaigns . All promotional videos mention that politicians are working to attract the jobs of the future and create the next generation of the Internet.

Recall that in November, a participant in the election race from the Republican Party, Vivek Ramasavami, presented the concept of Three Freedoms of Crypto, which will “guarantee a bright the future of cryptocurrency and economic freedom for Americans.”

Earlier, he criticized the digital dollar and US Treasury Secretary Janet Yellen for promoting CBDC.

Later, another presidential candidate Robert Francis Kennedy Jr. called Bitcoin the answer on the threat to the state digital currency.


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