VC firm Andreessen Horowitz (a16z) has donated $25 million to Fairshake and related entities, according to a16z crypto Managing Partner Chris Dixon on May 30.

Dixon stated that the donation will aid Fairshake in supporting bipartisan US candidates, promoting entrepreneurship, and advancing clear regulations for digital assets.

He remarked:

“…we need to keep up the momentum and show that the U.S. can lead in creating the next wave of blockchain innovation.”

The donation is not recorded on the Federal Election Commission (FEC) website. Bloomberg confirmed Dixon’s original announcement.

This recent contribution raises a16z’s total donations to Fairshake to $47 million, following an earlier $20 million donation. In 2023, company founders Ben Horowitz and Marc Andreessen each personally contributed $9.5 million to Fairshake.

Crypto political issue

Crypto has emerged as a significant issue in US elections with these donations.

Republican presidential candidate Donald Trump recently expressed a positive stance toward cryptocurrency companies and began accepting crypto donations for his campaign.

Simultaneously, the Biden administration is seeking assistance from the crypto industry to overhaul its digital asset policy. This marks a shift from the Democratic Party’s previous approach, characterized by enforcement actions from Gary Gensler’s SEC and restrictive legislative proposals such as Elizabeth Warren’s Digital Anti-Money Laundering Act.

Certain developments, like the recent House vote on the Financial Innovation and Technology for the 21st Century Act (FIT21), have garnered bipartisan support.

Fairshake’s support for members of both parties, including Republican Rep. Dusty Johnson and Democratic Rep. Josh Gottheimer, offers another bipartisan avenue for supporting crypto.

Fairshake has raised $93 million to date

Fairshake raised nearly $92.9 million during 2023 and 2024.

On May 29, Ripple announced a $25 million donation to Fairshake, bringing its total donation to $50 million and calling for supportive crypto regulation.

Other donors include Kraken parent Payward Inc., Gemini founders Cameron and Tyler Winklevoss, Coinbase, Circle, Ark Invest, and related individuals.