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Ripple’s $25M Bet on Pro-Crypto Politics Shakes Up DC

Ripple’s $25M Bet on Pro-Crypto Politics Shakes Up DC

DailyCoin2024/11/28 13:11
By: DailyCoin
XRP+1.80%
  • Ripple has donated $25M to Fairshake PAC to support pro-crypto candidates.
  • CEO Brad Garlinghouse leads the effort amid regulatory challenges in the US.
  • Ripple’s alliance with Fairshake aims to influence crypto-friendly legislation.

Ripple Labs is no stranger to regulatory challenges, but its latest move suggests a more aggressive strategy. Amid ongoing legal battles with the U.S. Securities and Exchange Commission (SEC) , the blockchain giant has pledged $25 million to Fairshake PAC. This donation underscores Ripple’s determination to influence the future of cryptocurrency legislation.

For Ripple, aligning with Fairshake isn’t new, but the stakes have never been higher. As the U.S. grapples with the need for clearer crypto policies, Ripple’s financial backing of this PAC signals a push to ensure blockchain innovation thrives in America.

Ripple’s Strategic Alliance with Fairshake

Ripple’s $25M pledge is its third contribution to Fairshake PAC, bringing its total donations to $70M. Ripple CLO Stuart Alderoty highlighted the firm’s commitment, noting:

Sponsored

“Innovation is here to stay, and we will remain a strong force in DC for years to come.”

This aligns with Fairshake’s goal to elect pro-crypto candidates in the U.S. House and Senate. The PAC, founded to address the lack of regulatory clarity, has gained support from major crypto players like Coinbase and a16z, contributing to its $103M war chest for the 2026 midterms.

Ripple’s influence within Fairshake has been significant. In the lead-up to the 2024 elections, the PAC spent millions on advertisements supporting candidates favorable to crypto. Ripple’s contributions made it one of Fairshake’s largest donors, alongside other key supporters like Coinbase CEO Brian Armstrong and the Winklevoss twins.

The bipartisan nature of Fairshake’s support has sparked concerns within the GOP, particularly as the PAC invested $12M in the 2024 Ohio Senate race to unseat Democratic incumbent Sherrod Brown. Despite these controversies, Ripple’s commitment to the PAC signals its long-term vision for regulatory reform.

Ripple’s Legal Struggles and a Path Forward

Ripple’s legal battle with the SEC , dating back to 2020, remains unresolved, but recent political shifts could help it. The Republican Party’s sweeping victories in the 2024 elections—securing control of the presidency, Senate, and House—have sparked optimism for pro-crypto policies.

Ripple’s CEO Brad Garlinghouse has refrained from direct political donations to presidential campaigns. However, Ripple Chairman Chris Larsen has expressed support for Kamala Harris while also stating that Republicans could “make crypto great again.” These strategic moves suggest Ripple is positioning itself for favorable outcomes regardless of political leadership.

Looking ahead, Fairshake’s influence could be pivotal. With its $103M fund, the PAC aims to ensure Congress prioritizes crypto and stablecoin legislation, a move that could benefit Ripple. Analysts believe these developments may help resolve Ripple’s ongoing legal issues, especially under the new SEC leadership expected during Donald Trump’s administration.

On the potential resolution of the case, former CFTC Chair Chris Giancarlo has stated:

“I think they should drop the XRP case. I would bet that they would.”

While such predictions remain speculative, Ripple’s political engagement highlights its broader strategy to secure a favorable regulatory environment for blockchain innovation.

On the Flipside

  • Ripple’s support for Fairshake PAC has drawn criticism from both GOP and Democratic leaders due to its bipartisan endorsements.
  • The outcome of Ripple’s legal battle with the SEC remains uncertain despite political shifts.
  • Fairshake’s focus on pro-crypto candidates doesn’t guarantee swift legislative clarity for the industry.

Why This Matters

By backing pro-crypto candidates, Ripple aims to influence legislation that could end its legal struggles with the SEC and define the future of U.S. crypto regulation. Fairshake’s bipartisan support highlights the urgency for clear rules to ensure America remains competitive in blockchain.

Learn how the Trump administration’s new stance on empowering the CFTC could shift crypto regulations and industry dynamics:
Trump Administration to Empower CFTC in Crypto Regulation Shift

Discover how recent SEC changes have driven optimism for Ripple’s XRP and explore its potential growth:
SEC Shake-Up Boosts Ripple’s XRP – How High Can It Go?

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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