Latest crypto super PACs draw $78M influx of cash for friendly politicians 

Crypto’s new major political donors include those recently targeted by the SEC: Coinbase, Ripple and Kraken


photoeu/Shutterstock modified by Blockworks


Crypto executives and companies seeking more influence in Washington are paying up. A trio of crypto-focused super PACs has raised $78 million so far to support digital asset-friendly candidates, the group said Monday. 

The trio, Fairshake and affiliated super PACs Protect Progress and Defend American Jobs, intends to “support leaders who support American crypto and blockchain innovation and responsible regulation in the forthcoming 2024 elections,” a spokesperson said Monday. 

Fairshake has already received support from Coinbase and its CEO Brian Armstrong, Gemini co-founders Tyler and Cameron Winklevoss, and crypto companies including Kraken, Ripple and Circle. 

The news comes months after Coinbase launched its ‘Stand with Crypto Alliance,’ a nonprofit the exchange said seeks to advance crypto-friendly policy around the world.

“[The Alliance] completely embodies exactly what the crypto industry is all about,” Kara Calvert, Coinbase’s head of US policy, said in August. “It’s all about decentralized efforts, decentralized power, decentralized access, and that’s I think really what this Stand With Crypto movement is about.” 

Read more: Disappointed but not surprised: Industry reacts to SEC’s Coinbase denial

Armstrong said in September he would personally pledge $1 million to crypto-focused campaigns through his support of Fairshake. 

“The US cannot afford to continue taking a back seat on the global stage,” Ripple CEO Brad Garlinghouse wrote on X Monday. “Regulatory overreach ([especially] from the SEC) is actively moving the US in the wrong direction, and other countries are taking full advantage of the lack of US leadership.” 

Super PACs, which can accept unlimited contributions from individuals, corporations and other political committees, are raking in more money than ever this election cycle. Midway through 2023, Super PACs had already clocked more than $14 million in independent expenditures for the primaries, according to Federal Election Commission (FEC) data. 

Read more: Gensler says SEC is taking ‘new look’ at spot bitcoin ETF proposals

PACs and parties have not yet had to file their campaign finance disclosures with the FEC, so the full donor profiles for the groups are not yet public. Contributions made between July and the end of 2023 are due by the end of January 2024. 

Other contributors to Fairshake include: Ark, Andreessen Horowitz, Blockchain Capital, Wences Casares, Ron Conway, Cumberland, Framework Ventures, Hunter Horsley, Jump Crypto, Lightspark, Messari, Multicoin Capital, Paradigm, Potter Ventures and Fred Wilson. 

Don’t miss the next big story – join our free daily newsletter.


Upcoming Events

Hilton Metropole | 225 Edgware Rd, London

Mon - Wed, March 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience: Attend expert-led panel discussions and fireside chats Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts.

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Research report - cover graphics (1).jpg


In this report, we dive into crypto private market data to gather insights on where the future of the industry is headed. Despite a notable downturn in private raises, capital continues to infuse promising projects that aim to transform payments, banking, consumer experiences, community, and more, with 2023 being the fourth-largest year for crypto venture capital.


BUZZ holds shares of Coinbase, Robinhood and MicroStrategy


Opinion: Even though I didn’t pay for my “Diamond Hands” burger with BTC, don’t let that fool you into thinking that crypto’s development is futile


The results mark “a major positive inflection point,” one analyst says, as the exchange carries net income momentum into a crypto rally


While the slate of 10 US spot bitcoin funds have tallied $4.6 billion of net inflows thus far, half of the field is lagging the leaders


Trading volumes totalled $154 billion in Q4, including $125 billion in institutional volume


DeFi on Bitcoin is all the rage right now and Stacks is positioned to benefit