Ripple’s new contribution to Fairshake is on top of another $25 million donation to the pro-crypto PAC in 2023.

Ripple's Major Contributions to Crypto PAC Fairshake

Key Points:
1. Financial Support:
- Ripple has donated a total of $50 million to Fairshake, a federal crypto super political action committee (PAC).
- The donations include $25 million in 2023 and another $25 million recently.
- Fairshake has raised over $100 million, with contributions from other major crypto players like Coinbase, Gemini, Andreessen Horowitz, and ARK Invest.

2. Purpose and Impact:
- The 2024 elections are seen as crucial for the crypto industry to support pro-crypto candidates and remove those opposed to crypto.
- Fairshake has been influential in campaigns, notably helping to block Congresswoman Katie Porter’s Senate bid.

3. Ripple’s Motivation:
- Ripple’s contributions aim to advance policies favoring financial innovation in the U.S.
- They criticize the SEC’s enforcement approach, advocating for a positive regulatory environment to foster crypto innovation.

4. Broader Industry Efforts:
- Ripple's CEO, Brad Garlinghouse, emphasized the importance of educating voters on the benefits of crypto and the risks posed by anti-crypto policymakers.
- The crypto industry is committed to continued investment in these political efforts until significant regulatory changes are achieved.

5. Ongoing Legal Battle:
- Ripple is still engaged in a prolonged legal dispute with the SEC, which began in 2020 over alleged violations of federal securities laws.

Summary:
Ripple has significantly bolstered Fairshake, a crypto-supportive PAC, with $50 million in donations. This funding is part of a broader industry effort to influence the 2024 elections in favor of pro-crypto candidates and to push for regulatory reforms. Ripple criticizes the SEC’s enforcement-based approach and underscores the need for a supportive regulatory framework to drive innovation in the crypto space. The company's active political involvement continues amid its ongoing legal battle with the SEC.