Ripple donates an additional $25 million to the pro-crypto political committee Fairshake

Ripple announced today it has contributed an additional $25 million to the federal super PAC Fairshake, supporting pro-crypto political candidates for the 2024 U.S. elections. This follows a previous $25 million donation made by Ripple in 2023.

Ripple emphasized the importance of the upcoming election for the future of cryptocurrency regulation and innovation in the U.S., criticizing the SEC's current enforcement-based approach. "The 2024 elections will be the most consequential in crypto history," Ripple stated, with CEO Brad Garlinghouse adding that the industry will continue to push for meaningful regulatory change.

Ripple has been engaged in a legal battle with the SEC, which has accused the company of raising $1.3 billion through the unregistered sale of XRP.

The crypto agenda has become a significant issue in the upcoming election. Former President and Republican candidate Donald Trump has expressed support for the crypto industry and has started accepting campaign donations in cryptocurrency. Senator Cynthia Lummis is also working to build a pro-crypto coalition in Congress. According to a recent DCG poll, over 20% of voters in swing states are interested in candidates' stances on crypto.