Ripple Donates $25 Million For U.S Mid Term Election

Ripple a prominent supporter of Fairshake, a political action committee (PAC), revealed a substantial new donation to sway the US elections.

Written by: Olumide Adesina • Wednesday, November 27, 2024 • 1 min read

• Last updated: Wednesday, November 27, 2024

Ripple a prominent supporter of Fairshake, a political action committee (PAC), revealed a substantial new donation to sway the US elections.

The CEO of Ripple announced that the company would donate $25 million to Fairshake to support the election of “pro-crypto, pro-growth, and pro-innovation” candidates in future U.S . elections. Ripple had already contributed $45 million to the PAC ahead of the 2024 election, making it one of Fairshake’s biggest donors along with Coinbase, Jump Crypto, and Andreessen Horowitz.

PAC has roughly $103 million FOR the 2026 U.S. election cycle. The PAC was one of the largest spenders in the 2024 primary and general elections with roughly two-thirds of elected candidates supporting pro-crypto policies,. Candidates “from both sides of the political spectrum” allegedly supported by the PAC. The Republican Party won the November elections and now controls the Senate, the House of Representatives, and the presidency—a political trifecta not seen since 2017.

The Financial Innovation and Technology for the 21st Century Act and stablecoin regulations are among the bills that experts expect upcoming Congress might give top priority. In 2025 and 2026, Fairshake’s efforts will be contingent on how lawmakers address the regulation of cryptocurrency.

A major investment in the Ohio Senate race to is to unseat Sherrod Brown, the Democratic chairman of the Senate Banking Committee and a strong opponent of crypto assets. Brad Garlinghouse has not been seen to make direct contributions to Donald Trump’s presidential campaign or his PACs during the 2024 election cycle.

However, he has stated that the Republican would “restore the crypto industry to its former glory” in the US. The co-founder and executive chairman of Ripple, Chris Larsen, on the other hand, gave $12 million to political action committees that backed Democratic candidate and Vice President Kamala Harris.

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ABOUT THE AUTHOR See More

Olumide Adesina

Financial Market Writer

Olumide Adesina is a French-born Nigerian financial writer. He tracks the financial markets with over 15 years of working experience in investment trading.