Payments platform Ripple is once again donating millions of dollars to a crypto super PAC as the 2024 US election approaches.
According to a new press release, Ripple is doubling up its $25 million contribution to Fairshake, a federal super PAC dedicated to supporting pro-crypto candidates during the election.
“This investment is in addition to the $25 million Ripple contributed to Fairshake in 2023. Ripple’s contribution, along with those from other crypto firms and leaders, is part of an industry-wide effort to advance policies that support the next generation of financial innovation in the U.S.”
Ripple says that while crypto regulatory action is currently working its way through the legislation process, the US is falling behind other nations in terms of crypto innovation.
“Although Congress is now advancing comprehensive legislation for the crypto industry to secure a promising future for American innovation, competitiveness, and growth, the U.S. has fallen behind other responsible countries that have embraced crypto and the innovative technology that underpins it.
The time for the U.S. to act is now. Ripple is proud to invest in this effort and contribute to shaping a positive regulatory landscape in the U.S.”
By contributing to Fairshake, Ripple hopes to carve out the future of digital assets and blockchain technology. As stated by Ripple chief executive Brad Garlinghouse in the press release,
“Ripple will not, and the crypto industry should not, keep quiet while unelected regulators actively seek to impede innovation and economic growth that millions of Americans utilize. The crypto industry intends to remain heavily invested in this effort until we see meaningful change.”
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