Ripple Labs has made a $25 million donation to Fairshake, a pro-crypto super political action committee (PAC), aiming to strengthen the digital asset industry’s influence in Washington, D.C.
This donation, announced by Ripple Labs’ CEO Brad Garlinhouse, marks the company’s third $25 million contribution to the committee in the past year, underlining its commitment to advancing pro-crypto legislation and regulatory frameworks.
Ripple Labs Committed to Pro-Crypto Legislation
Fairshake is a super PAC that gathers donations from corporations and wealthy individuals to fund political candidates aligned with their interests. The committee had quite a success during the 2024 US elections, where it played a key role in securing congressional support for the crypto industry.
Electing pro-crypto, pro-growth and pro-innovation candidates is a no-brainer, and to continue that momentum, Ripple is contributing another $25M to Fairshake, said Brad Garlinghouse, Ripple Labs’ CEO.
Fairshake emerged as the largest super PAC of the cycle, amassing over $200 million, according to data from OpenSecrets. The PAC donated $1 million or more to 22 congressional candidates, with at least 90% of those candidates defeating their opponents.
Related: Ripple CEO Says SEC Chair Candidate is a Step Backward for the Industry
Betting On More Legislative Changes for Cryptocurrency
This crypto-backed PAC has confirmed its intention to continue pushing for legislative changes favorable to the cryptocurrency industry.
For instance, some key legislative priorities for the upcoming Congress may include the Financial Innovation and Technology for the 21st Century Act and stablecoin-focused bills. It also plans to invest heavily in the 2024 Ohio Senate race, targeting Senator Sherrod Brown, a Democrat and vocal crypto critic.
Garlinghouse’s announcement aligns with his broader support for pro-crypto policies, though he did not directly contribute to Donald Trump’s presidential campaign.
He has, however, expressed confidence in the Republican Party’s potential to bolster the U.S. crypto industry. Conversely, Ripple co-founder Chris Larsen has supported Democratic candidates, contributing $12 million to PACs backing Vice President Kamala Harris.
Outlook for Cryptocurrencies in the US
As the crypto industry seeks to influence regulatory and legislative outcomes, the results of the 2024 elections may shape Fairshake’s strategy for 2025 and 2026.
With the next U.S. midterm elections set for November 3, 2026, Ripple and other crypto-aligned entities are expected to remain active in shaping the political landscape. All 435 seats in the House of Representatives and 33 Senate seats will be contested, offering further opportunities to promote policies favorable to the blockchain and cryptocurrency sectors.
Related: XRP Lawsuit Settlement: Ripple May Get Reduced Fine – Legal Experts
