Crypto News- Tyler and Cameron Winklevoss have made a hefty $4.9 million contribution to the crypto-focused Fairshake super PAC. This infusion of funds is aimed at bolstering crypto-friendly candidates in the upcoming United States elections.
According to recent filings with the U.S. Federal Election Committee (FEC) and Fairshake’s own disclosures, each of the Winklevoss twins chipped in $2.45 million to the super PAC.
Fairshake is flexing its financial muscles, reporting a substantial $72.8 million in cash reserves at the close of the reporting period.
Winklevoss Twins Inject 4.9M Dollars into Crypto Super PAC Fairshake
The 2024 donor roster for Fairshake features heavyweights like Payward (Kraken crypto exchange), which contributed $750,000 in January, and Electric Capital Partners, with a $500,000 donation in the same month. Recent backing also comes from Blockchain Capital, a venture capital firm, which pitched in $100,000.
In December 2023, Fairshake saw significant support from crypto venture capitalists Marc Andreessen and Ben Horowitz of Andreessen Horowitz, as well as Jump Crypto, Coinbase, and Ripple Labs, amounting to a combined $54.5 million.
Fairshake positions itself as an advocate for candidates dedicated to fostering innovation within the United States, especially in the realm of internet advancements.
As the crypto industry grapples with heightened scrutiny from regulators and lawmakers in light of recent collapses, Fairshake emerges as a pivotal player leading up to the 2024 U.S. election.
The super PAC aims to combat over-regulation by endorsing candidates across the political spectrum who embrace crypto-friendly policies.
On the battleground, Fairshake has made significant moves, recently allocating $3.6 million to oppose anti-crypto California Senate candidate Katie Porter, marking its largest expenditure to date in election influence.
Meanwhile, Senator Elizabeth Warren, a vocal critic of crypto, acknowledges the potential influence of super PACs in the political arena, expressing concerns over attempts to impede her Senate reelection bid.
With the 2024 U.S. election slated for November, the stakes are high, with all 435 House of Representatives seats, 33 Senate seats, and the presidency up for grabs. Fairshake’s efforts underscore the growing intersection of cryptocurrency and politics in shaping the future regulatory landscape.
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