Crypto Leaders Raise $78 Million to Support Pro-Innovation U.S. Politicians

Blockchain industry leaders have collectively raised $78 million through Fairshake Super PAC and its affiliates as part of an effort to support pro-crypto politicians for upcoming 2024 congressional elections.

Registered as a federal super PAC with the Federal Election Commission ("FEC"), Fairshake, along with its affiliate super PACs, intends to back candidates from both the U.S. House and Senate, irrespective of their political affiliations.

The first wave of fundraising has proved successful with $78 million accumulated solely in Q4 of 2023. This funding is targeted towards those candidates who champion U.S. crypto and blockchain innovation, while endorsing responsible regulations.

The PAC has a powerful supporter base including Andreessen Horowitz, Circle, Coinbase, Paradigm and Jump Crypto, the group said in a press release today.

Their strategy involves independent advertising efforts and lobbying for a clear regulatory and legal framework. The group believes its success is imperative for the full realization of the blockchain economy.

Activities of Fairshake are independent and federally supervised by the FEC. Two other super PACs, Protect Progress and Defend American Jobs, are federally registered with FEC and are affiliated with Fairshake.