Crypto News Today- Ripple Allocates Extra $25 Million to Pro-Crypto Political Committee Fairshake

Ripple Allocates Another $25 Million to Fairshake, Supporting Crypto Advocacy

Crypto News– Ripple made headlines today by announcing a $25 million contribution to the federal super political action committee (PAC) Fairshake, aimed at supporting pro-crypto political candidates in the upcoming 2024 U.S. elections. This donation adds to the $25 million Ripple previously contributed to Fairshake last year.

In a statement released on Wednesday, Ripple criticized the Securities and Exchange Commission’s (SEC) enforcement-based approach to crypto regulation, asserting that it has failed. Ripple emphasized the urgency for the U.S. to take action and shape a positive regulatory environment for the crypto industry.

The company highlighted the significance of the 2024 elections, stating that they will profoundly impact the future of financial and technological innovation within the crypto space. Ripple’s CEO, Brad Garlinghouse, emphasized the crypto industry’s commitment to advocating for change, stating that they will continue to invest heavily until meaningful regulatory reform is achieved.

Ripple’s ongoing legal battle with the SEC, stemming from allegations that it raised $1.3 billion through the sale of XRP as an unregistered security, underscores the company’s determination to defend itself and push for regulatory clarity in the crypto sector.

Crypto Roadmap

Cryptocurrency has emerged as a pivotal issue in the upcoming U.S. election, with the crypto industry and communities advocating for a more crypto-friendly government.

Former U.S. President and current Republican presidential candidate Donald Trump has openly embraced crypto, expressing his positivity and open-mindedness towards crypto companies. Just last week, Trump initiated the acceptance of campaign donations in cryptocurrency. U.S. Senator Cynthia Lummis, R-Wyo., has also voiced her support for Trump, stating that she is spearheading a pro-crypto coalition within Congress.

According to a recent poll conducted by DCG, more than one-fifth of voters in key swing states such as Michigan, Ohio, and Montana indicated that they will closely consider candidates’ positions on cryptocurrency when casting their votes.

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