Ripple today announced that it has donated $25 million to Fairshake, a top federal political action committee (PAC) to support cryptocurrency-backed political candidates in the 2024 US elections. This donation is in addition to the $25 million that Ripple donated to Fairshake last year.
“The Securities and Exchange Commission’s approach to regulating cryptocurrencies through enforcement has failed,” Ripple said in a statement Wednesday. “The time for America to act is now. ripple “We are proud to invest in this effort and contribute to creating a positive regulatory environment in the United States.”
The blockchain solutions company added that the 2024 election will be the “most important” election in cryptocurrency history that will impact upcoming financial and technological innovations.
“Ripple cannot remain silent while unelected regulators actively seek to hinder the innovation and economic growth that millions of Americans rely on, and neither can the cryptocurrency industry,” Ripple CEO Brad Garlinghouse said in a statement. “It shouldn’t be done,” he said. “The cryptocurrency industry plans to continue investing heavily. We will continue these efforts until we see meaningful change.”
Ripple is Fighting with the SEC The company has been in court for years after regulators accused it of raising $1.3 billion through XRP sales. XRP was considered an unregistered security.
Cryptocurrency Agenda
Cryptocurrency has become one of the main issues in the upcoming US election, and the cryptocurrency industry and community are pushing for a cryptocurrency-friendly administration.
Former U.S. president and current Republican presidential candidate donald trump He has embraced cryptocurrencies, declaring that he is “very positive and open” to cryptocurrency companies. Last week, Trump began accepting campaign donations in cryptocurrency. US support for Trump Sen. Cynthia Lummis, R-Wyo.She said she is building a cryptocurrency coalition within Congress.
More than a fifth of voters in several swing states, including Michigan, Ohio and Montana, said they would pay close attention to a candidate’s cryptocurrency position. DCG’s poll Early this month.
Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.
© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.