According to a May 29 report, Ripple has highlighted the 2024 US elections as a pivotal moment for the crypto industry. rack.
In response, the company has donated $25 million to Fairshake, a federal super PAC that backs pro-crypto and pro-innovation candidates. This contribution brings Ripple’s total donation to the committee to $50 million.
Notably, Fairshake has attracted funding from prominent crypto industry players including Coinbase, Gemini and venture capital firm Andreessen Horowitz.
Crypto education
Ripple criticized the Securities and Exchange Commission’s (SEC) enforcement-oriented approach to the nascent industry, arguing that it has not been effective.
The company emphasized that while Congress is making progress toward comprehensive crypto legislation, the US still lags behind other countries with more supportive regulatory frameworks.
As a result, Ripple CEO Brad Garlinghouse said the company was donating to initiatives that educate voters about the future role of crypto and the risks posed by anti-crypto policymakers. He claimed:
“Ripple will not – and neither should the crypto industry – remain silent while unelected regulators actively seek to hinder the innovation and economic growth enjoyed by millions of Americans. The crypto industry plans to continue investing heavily in these efforts until we see meaningful change.”
American voters are increasingly pro-crypto
Meanwhile, a recent Grayscale survey reveals growing pro-crypto sentiment among Americans, driven by significant macroeconomic developments and the maturation of the sector.
According to the survey, approximately 47% of US voters plan to include crypto in their investment portfolios. Additionally, approximately 32% of voters showed an increased interest in learning about crypto as an investment.
The survey also noted an increased focus on Bitcoin, fueled by critical events such as the spot approval of Bitcoin ETF in January and Bitcoin’s halving in April.
Grayscale concluded that the research showed that policymakers and candidates running in the 2024 elections should address crypto in their policies due to its growing importance.