Ripple has emphasized the significance of the 2024 US election for the crypto industry, as stated on May 29. In response, the company has donated $25 million to Fairshake, a federal super PAC supporting pro-crypto and pro-innovation candidates, bringing Ripple's total contribution to the committee to $50 million. Notably, Fairshake has garnered support from prominent crypto industry players like Coinbase, Gemini, and venture capital firm Andreessen Horowitz.

Critiquing the Securities and Exchange Commission’s (SEC) enforcement-focused approach, Ripple argues it has been ineffective. While Congress is progressing towards comprehensive crypto legislation, the US still lags behind nations with more supportive regulatory frameworks. Thus, Ripple CEO Brad Garlinghouse explained the company's donation to initiatives educating voters about crypto's future role and the risks posed by anti-crypto policymakers, stating:

“Ripple will not – and the crypto industry should not – keep quiet while unelected regulators actively seek to impede innovation and economic growth that millions of Americans utilize. The crypto industry intends to remain heavily invested in this effort until we see meaningful change.”

Meanwhile, a recent Grayscale survey indicates a growing pro-crypto sentiment among Americans, driven by significant macroeconomic developments and the sector’s maturation. Around 47% of American voters plan to incorporate crypto into their investment portfolios, with approximately 32% expressing increased interest in learning about crypto as an investment. The survey also highlights a heightened focus on Bitcoin, spurred by critical events like the spot Bitcoin ETF approval in January and the April Bitcoin halving event.

Grayscale concludes that policymakers and 2024 election candidates must address crypto in their policies due to its growing importance.