Gemini

2024

Capitol

Web3-focused venture firm A16z Crypto nearly doubled its donation to major blockchain super PAC Fairshake. 
A16z Crypto founder and managing partner Chris Dixon confirmed his company’s $25 million donation to Fairshake, a super political action committee (PAC) focused on lobbying pro-crypto regulations on Capitol Hill. 
The financial support will cushion campaign efforts for political candidates dedicated to protecting internet freedom, open-source blockchain development, and cryptography in the U.S., Dixon said at Consensus 2024. 
The latest donation increased a16z Crypto’s contribution to Fairshake and its affiliated PACs to $47 million, joining other digital asset heavyweights like Coinbase and Ripple in deploying financial resources against anti-crypto rhetoric in Washington.&nbsp; 
“As an industry, we need to keep up the momentum and show that the U.S. can lead in creating the next wave of blockchain innovation,” Dixon <a href="https://x.com/cdixon/status/1796203749171765483" target="_blank" rel="">wrote</a> on X. 
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Fairshake backs bipartisan aspirants and lawmakers, a decision that Uniswap Labs CLO Marvin Ammori said the nascent industry should emulate. During a debate with Messari CEO Ryan Selkis at the blockchain conference, Ammori emphasized that crypto must not tie itself to any political party. A nonpartisan stand could also be the best case for the industry, Ammori said. 
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 <img loading="lazy" decoding="async" width="1024" height="579" src="https://crypto.news/app/uploads/2024/05/dixon-1024x579.jpg" alt="Consensus 2024: A16z Crypto boss confirms $25m lobbying donation - 20"> 
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 You might also like: <a href="https://crypto.news/coinbase-a16z-ripple-pour-millions-into-fairshake-crypto-lobbying-group/" rel=""> Coinbase, a16z, Ripple pour millions into Fairshake crypto lobbying group </a> 
<h2 class="wp-block-heading" id="a16z-crypto-and-industry-stakeholders-join-hands">A16z Crypto and industry stakeholders join hands&nbsp;</h2> 
Following a <a href="https://crypto.news/u-s-crypto-industry-lobbying-efforts-hit-record-high-in-2023/" target="_blank" rel="">record high</a> for crypto lobbying last year, Fairshake has received tens of millions in donations from blockchain industry leaders and digital asset providers in 2024. 
XRP issuer Ripple pledged $25 million to the Super PAC on May 29, matching last year’s $25 million allocation. Fairshake also <a href="https://crypto.news/winklevoss-twins-give-out-4-9m-to-fairshake-crypto-lobbying-group/" target="_blank" rel="">received</a> $4.9 million from Gemini exchange co-founders Cameron and Tyler Winklevoss in April.&nbsp; 
Crypto companies are flowing millions of revenue into super PACs and their affiliates during an election year that could shape future U.S. digital asset policies.&nbsp;The crypto voting block has become prominent as nearly half of American voters either own digital assets or consider blockchain a motivating factor when considering candidates, according to a poll <a href="https://crypto.news/from-donations-to-decisions-how-crypto-pacs-target-senate-races/" rel="">cited</a> by crypto.news in March. 
Digital asset adoption is also at a crossroads, with regulators like the U.S. SEC and policymakers like Senator <a href="https://crypto.news/?s=Elizabeth+warren" rel="">Elizabeth Warren</a> cracking down on service providers. Meanwhile, spot <a href="https://crypto.news/?s=Bitcoin+ETF" target="_blank" rel="">Bitcoin ETFs</a> have clearly shown a demand for these virtual currencies and their underlying technology. 
 Read more: <a href="https://crypto.news/from-donations-to-decisions-how-crypto-pacs-target-senate-races/" rel=""> From donations to decisions: how crypto PACs target Senate races </a>

Consensus 2024: A16z Crypto boss confirms $25m lobbying donation

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