A New Era For Crypto Advocacy: $78M Arsenal To Elect Pro-Crypto Candidates, Gain 1M Supporters To Shape The Future Of Finance
Portfolio Pulse from Murtuza Merchant
The Fairshake Super PAC, representing the U.S. crypto community, has raised over $78 million to support pro-crypto candidates in the 2024 elections. Contributions came from 20 companies and industry figures, including Andreessen Horowitz, Ark, Coinbase Global Inc. CEO Brian Armstrong, and Blockchain Capital. The PAC aims to gain 1 million supporters to advocate for fair crypto policies, with over 215,000 already onboard. The initiative reflects the interests of 52 million Americans who own digital assets and are dissatisfied with the current financial system.
December 18, 2023 | 5:09 pm
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POSITIVE IMPACT
Coinbase Global Inc. CEO Brian Armstrong's contribution to the Fairshake Super PAC may signal strong support for crypto-friendly policies, potentially benefiting Coinbase if such policies are enacted.
As a major player in the cryptocurrency space, Coinbase stands to benefit from any pro-crypto legislation that may result from the election of supported candidates. The company's involvement in the PAC could be viewed positively by investors who see regulatory support as key to the industry's growth.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Circle's involvement in the Fairshake Super PAC could enhance the regulatory environment for stablecoins like USDC, potentially increasing its adoption and trust among users.
Circle's support for the PAC suggests an effort to shape a favorable regulatory framework for stablecoins. Positive regulatory developments could lead to increased use and trust in USDC, which would be beneficial for Circle and the stablecoin market.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Ripple's contribution to the Fairshake Super PAC may help foster a regulatory environment that is beneficial for Ripple and its associated cryptocurrency, XRP.
Ripple's support for the PAC indicates a strategic move to advocate for regulations that could positively impact XRP. If pro-crypto candidates win and influence policy, it could lead to a more favorable operating environment for Ripple and increased adoption of XRP.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60