Cameron and Tyler Winklevoss have contributed $4.9 million to a super political action committee (PAC) that supports the cryptocurrency sector, according to a recent report. In addition, federal election records show that the super PAC Fairshake raised $6.3 million in funding last month.
Blockchain PAC’s Impact Is Increased by Crypto Leaders’ Heavy January Donations
Currently making waves is a super PAC called Fairshake, which concentrates on the blockchain and cryptocurrency industries. This PAC is committed to supporting political contenders who support the blockchain sector. The Fairshake website highlights how crucial it is to provide blockchain entrepreneurs with the chance to grow their networks in a more open and transparent legal and regulatory framework.
According to Fairshake’s website, “if the broader open blockchain economy is to grow to its full potential here in the United States, it is vital to provide blockchain innovators the ability to develop their networks under a clearer regulatory and legal framework.”
According to information provided by the Federal Elections Committee (FEC), Fairshake raised $6.3 million in total in January, including $4.9 million from the Winklevoss twins, according to a report by Bloomberg’s Bill Allison. Protect Progress and Defend American Jobs are two more PACs that support the blockchain sector in addition to Fairshake.
According to reports, these political action committees work to change the political narrative and mainstream opinions about the blockchain and digital currency industries. This endeavor is especially relevant in light of the fact that the former crypto tycoon Sam Bankman-Fried, whose fraudulent actions cast a large shadow over the business, donated millions of dollars to political politicians before his empire collapsed.
Opensecrets.org metrics show that the Fairshake PAC, domiciled in Florida, has raised $85.72 million and spent $18.9 million in total. Furthermore, Bloomberg’s report emphasizes that Fairshake has received funding from the Winklevoss twins as well as organizations like Ripple Labs, Andreessen Horowitz, Coinbase Global, and others.
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