Winklevoss twins donate $4.9M to crypto super PAC Fairshake

Martin Young2 hours agoWinklevoss twins donate $4.9M to crypto super PAC FairshakeFairshake, a political action committee supported by Coinbase and a16z, has a $73 million war chest to oppose anti-crypto candidates and support those in favor of digital assets.1138 Total views1 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksTyler and Cameron Winklevoss have donated $4.9 million to the crypto-focused Fairshake super political action committee (PAC) to support crypto-friendly candidates in the upcoming United States elections. 

According to data from the U.S. Federal Election Committee (FEC) and Fairshake’s latest federal filings on Feb. 20, the Winklevoss twins each donated $2.45 million to the super PAC.

Additionally, Fairshake reported having $72.8 million in cash on hand at the end of the reporting period.

Fairshake’s largest donors in 2024 include Payward — operating as the Kraken crypto exchange — which donated $750,000 on Jan. 12, and Electric Capital Partners, which donated $500,000 on Jan. 26, according to the documents.The Winklevoss twins each donated $2.45 million to the Fairshake super PAC. Source: FEC

Other recent donors to the crypto super PAC include venture capital firm Blockchain Capital, which donated $100,000 in January.

In December 2023, Fairshake received a combined $14 million from crypto venture capitalists Marc Andreessen and Ben Horowitz of Andreessen Horowitz, $5 million from Jump Crypto, $15.5 million from Coinbase and $20 million from Ripple Labs, according to OpenSecrets.

Fairshake describes itself as supporting candidates “committed to securing the United States as the home to innovators building the next generation of the internet.”

Related:Pro-crypto Super PAC targets Rep. Katie Porter in California Senate race

Many within the crypto industry view Fairshake as a critical player heading into the 2024 U.S. election, as the crypto industry faces increased scrutiny from lawmakers and regulators following a slew of high-profile collapses in the last 18 months.

Fairshake aims to fight the over-regulation of the industry by backing crypto-friendly candidates from both sides of the political aisle in the United States.

On Feb. 13, a political advertising tracker revealed that Fairshake had spent $3.6 million opposing anti-crypto California Senate candidate Katie Porter, its biggest outlay to influence an election so far.

On Feb. 18, crypto critic Senator Elizabeth Warren said that super PACs could “spend any amount of money needed” to attempt to stop her Senate run.

The 2024 election in the U.S. is scheduled for November, with all 435 seats in the House of Representatives, 33 seats in the Senate and the presidency up for grabs.

Magazine:Lawmakers’ fear and doubt drives proposed crypto regulations in US# Politics# Donations# Winklevoss Twins# Elections# RegulationAdd reactionAdd reactionRead moreJapan’s GameFi community raises liquidity concerns with lawmakerBinance adopts USDT price cap to align with lo