OpenSecrets data shows that the amount of money raised by the Political Action Committee (PAC) Fairshake is higher than other super PACs since the current cycle of U.S. elections for this year started.
According to the data, Fairshake PAC’s funding is more than the Make America Great Again Inc. (MAGA) super PAC. The former has raised $202,939,294, while the latter has raised $201,076,225. MAGA super PAC supports Republican presidential candidate Donald Trump, while Fairshake PAC supports a number of politicians.
Fairshake has spent a total of $14,426,252 on this year’s federal elections, with $702,273 spent for Democrats, $13,172,304 spent against democrats, and $551,675 spent for Republicans. OpenSecrets data shows that twenty-four entities and entities have donated to Fairshake, including Coinbase, Andreessen Horowitz, Ripple, Jump Crypto, Ark Investment Management, Xapo Bank, Solana Labs, Bitwise Asset Management, Winklevoss Capital Management, Circle Internet Financial and more.
Coinbase’s donation is almost $46 million, while Ripple, Andreessen Horowitz, Jump Crypto and Winklevoss Capital Management have donated $45 million, $44 million, $10 million and $5 million respectively.
As stated on Fairshake’s website, its mission is “providing blockchain innovators the ability to develop their networks under a clearer regulatory and legal framework.” As a federal independent expenditure-only committee supporting candidates solely via its independent activities, its focus is on assisting such candidates to make U.S. the home to innovators building the next generation of the internet.
Similarly, Coinbase-led advocacy group Stand With Crypto endorses specific candidates and advocates for policies that support the crypto industry. A total of twenty-two candidates in federal House and Senate campaigns have been endorsed by Stand With Crypto.
