Ripple emphasized the 2024 US election as a pivotal moment for the crypto industry in a statement released on May 29.

In response, the company had donated $25 million to Fairshake, a federal super PAC supporting candidates favorable to crypto and innovation, bringing Ripple's total contribution to the committee to $50 million.

Fairshake has received funding from prominent figures in the crypto industry, including Coinbase, Gemini, and venture capital firm Andreessen Horowitz.

Ripple criticized the Securities and Exchange Commission's (SEC) enforcement-centric approach to the emerging industry, arguing its ineffectiveness. The company pointed out that while Congress makes progress on comprehensive crypto legislation, the US lags behind nations with more supportive regulatory frameworks.

CEO Brad Garlinghouse stated that Ripple was investing in initiatives to educate voters about crypto's future role and the risks posed by anti-crypto policymakers. He said:

“Ripple and the crypto industry cannot stay silent while unelected regulators actively hinder innovation and economic growth that millions of Americans depend on. The crypto industry remains committed to this effort until we see substantial change.”

American voters increasingly support crypto

Meanwhile, a recent Grayscale survey indicated growing pro-crypto sentiment among Americans, driven by significant macroeconomic developments and the sector's maturation.

According to the survey, about 47% of American voters plan to incorporate crypto into their investment portfolios. Additionally, approximately 32% expressed heightened interest in learning about crypto as an investment.

The survey highlighted increased attention on Bitcoin, influenced by key events such as the approval of the spot Bitcoin ETF in January and the Bitcoin halving event in April.

Grayscale concluded that the survey underscored the need for policymakers and 2024 election candidates to address crypto in their platforms due to its growing significance.