The ongoing legal battle between Ripple and the Securities and Exchange Commission (SEC) over the nature of XRP has taken a new development. Recently, Ripple’s CEO, Brad Garlinghouse, made a post on X (previously Twitter) highlighting the impact of the US SEC on crypto firms in the US. Ripple CEO’s contributions to upcoming US election 
According to Brad, Team Ripple is taking a stand, joining forces with industry leaders to back pro-innovation and pro-crypto candidates in the upcoming 2024 US election. The current regulatory landscape, particularly from the SEC, is pushing the US in the wrong direction, allowing other nations to seize opportunities. 
Team 
Brad believes it’s crucial to support leaders who prioritize innovation and advocate for responsible regulation. In 2024, our focus is on promoting transparency, innovation, and a compliance-first approach to reclaim a leadership position on the global stage. Team Ripple is committed to making the most of this opportunity. 
This action by Ripple’s CEO comes amid the bid to influence the upcoming 2024 US election. Three allied political action committees (PACs) backed by leaders in the cryptocurrency industry are set to initiate the year with a formidable combined sum of $78 million. This financial firepower highlights the industry’s ongoing efforts to shape political outcomes, despite recent setbacks. Demand for new Crypto rules 
The three PACs, namely Fairshake, Protect Progress, and Defend American Jobs, operate as super PACs, allowing them to collect and expend unlimited funds in support of favored candidates. The departure of major contributor Sam Bankman-Fried, a former crypto star convicted on seven criminal counts, has not hindered the industry’s commitment to political engagement. 
Nevertheless, Fairshake received donations from more than 20 wealthy and influential players from the crypto landscape. Up to now, the top donors include Andreessen Horowitz, Coinbase, Ron Conway, Fred Wilson, Cameron and Tyler Winklevoss, and Ripple. Ben Horowitz, co-founder of Andreessen Horowitz, articulated the firm’s intent to back “like-minded candidates” aligning with the advancement of America’s technological future. 
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Ripple CEO pledges support for Pro-Crypto candidates in US elections

Todayq News

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