Fairshake, a Super PAC supporting candidates favorable to cryptocurrency and blockchain technology, has garnered $4.9 million in funding, with contributions from billionaire brothers Cameron and Tyler Winklevoss.
The Winklevoss twins, known for co-founding the Gemini exchange and their significant Bitcoin investments, were early backers of Fairshake. The initial investment dates back to December 18, 2023.
As per the latest federal filings, the duo donated $2.45 million each.
The two execs join a cadre of prominent crypto backers such as Ripple, Andreessen Horowitz (a16z), Circle ARK Invest, and Coinbase.
In total, Fairshake has amassed over $85 million, aiming to bolster leaders embracing crypto and blockchain technologies, as per data from OpenSecrets.org.
Super PACs wield significant influence by pooling resources and advocating for specific political agendas. To push lawmakers towards meaningful regulations in the crypto industry, these PACs can engage in various activities.
They may fund lobbying efforts, finance educational campaigns to increase awareness about the benefits of regulation, and support candidates who prioritize sensible crypto legislation.
Last year, Fairshake, along with two other super PACs, spent more than $1.2 million on ads for House candidates to influence the 2024 elections and support crypto-friendly candidates.
As such, Fairshake has emerged as the crypto industry’s most prominent campaign finance organization in the United States.
The new super PAC’s most notable political action to date involves opposing Katie Porter, a California Senate candidate with anti-crypto views.
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