Tyler and Cameron Winklevoss have made a generous contribution of $4.9 million to the Fairshake super political action committee (PAC), which focuses on supporting candidates who are friendly towards cryptocurrencies in the upcoming United States elections. This information was disclosed in the latest federal filings of the PAC, as reported by the U.S. Federal Election Committee (FEC) on February 20. Each of the Winklevoss twins donated $2.45 million to the super PAC. Fairshake’s cash reserves at the end of the reporting period amounted to $72.8 million. Notable donors to the crypto super PAC in 2024 include Payward, the operator of the Kraken crypto exchange, which donated $750,000 on January 12, and Electric Capital Partners, which donated $500,000 on January 26, as per the documents.
The Winklevoss twins each donated $2.45 million to the Fairshake super PAC.
Fairshake has also received recent contributions from venture capital firm Blockchain Capital, which donated $100,000 in January. Notably, in December 2023, Fairshake received substantial contributions from prominent crypto venture capitalists Marc Andreessen and Ben Horowitz of Andreessen Horowitz ($14 million), Jump Crypto ($5 million), Coinbase ($15.5 million), and Ripple Labs ($20 million), according to OpenSecrets.
Describing itself as a supporter of candidates who are dedicated to establishing the United States as the hub for innovators building the next generation of the internet, Fairshake is seen by many in the crypto industry as a key player in the upcoming 2024 U.S. elections. This is particularly important as the crypto industry faces heightened scrutiny from lawmakers and regulators following several high-profile collapses in the past 18 months. Fairshake aims to combat excessive regulation in the industry by endorsing crypto-friendly candidates from both major political parties in the United States.
On February 13, a political advertising tracker revealed that Fairshake had spent $3.6 million opposing anti-crypto candidate Katie Porter in the California Senate race, making it the largest amount spent by the PAC to influence an election thus far. Additionally, on February 18, Senator Elizabeth Warren, who is known for her criticism of cryptocurrencies, stated that super PACs could spend unlimited amounts of money in an attempt to prevent her from running for the Senate.
The 2024 U.S. election 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:
Proposed crypto regulations in the United States are being fueled by lawmakers’ fear and doubt.
Winklevoss twins contribute $4.9M to Fairshake, a crypto super PAC, in a generous donation