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A majority of pro-crypto or crypto-neutral candidates won their races in 2024, many of whom were supported by media buys from PACs like Fairshake.
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Blockchain payments firm Ripple, one of the biggest backers of the political action committee (PAC) Fairshake, has announced another significant contribution toward efforts to influence United States elections.
In a Nov. 26 X post, Ripple CEO Brad Garlinghouse said the firm would contribute $25 million to Fairshake to help elect “pro-crypto, pro-growth and pro-innovation candidates” in future US elections.
Ripple donated $45 million to the PAC before the 2024 elections, making it one of Fairshake’s biggest contributors alongside cryptocurrency exchange Coinbase, Jump Crypto, and Andreessen Horowitz.
Ripple CEO announcing a contribution to Fairshake on Nov. 26. Source: Brad Garlinghouse
A Fairshake spokesperson confirmed to Cointelegraph that the PAC had roughly $103 million in its coffers to be used for the 2026 US election cycle. The crypto-backed PAC was one of the biggest spenders in the 2024 primaries and general election, with roughly two-thirds of all candidates elected to the next Congress considered to favor pro-crypto policies.
The PAC says it supports candidates “on both sides of the aisle.” However, the November US election resulted in Republicans taking control of the presidency with a majority in the Senate and House of Representatives, a trifecta win that the party hadn’t had since 2017.
What’s next for the crypto industry influencing US elections?
It’s unclear what impact this Republican win could have on crypto legislation. Some pundits have said the next Congress could prioritize bills like Financial Innovation and Technology for the 21st Century Act and stablecoin legislation.
Fairshake’s efforts in 2025 and 2026 could depend on how US lawmakers in the new Congress handle crypto regulation and legislation. The PAC was not shy about its intentions to pour millions of dollars into the 2024 Ohio Senate race to unseat Sherrod Brown, the Democratic chair of the Senate Banking Committee and a vocal crypto skeptic.
Related: After US election wins, the crypto industry looks to the 2026 midterms
During the 2024 election cycle, Garlinghouse did not appear to have contributed directly to Donald Trump’s presidential campaign or supportive PACs but made statements claiming the Republican would “make crypto great again” in the US.
Ripple co-founder and executive chair Chris Larsen, in contrast, contributed $12 million to PACs supporting Democratic candidate and Vice President Kamala Harris.
The next US midterm elections will be held on Nov. 3, 2026. All 435 seats in the House of Representatives and 33 in the Senate will be up for grabs.
Magazine: Crypto voters are already disrupting the 2024 election — and it’s set to continue
This article first appeared at Cointelegraph.com News
