United States pro-crypto super political action committee (PAC) Fairshake continues to receive generous contributions, with another significant donation coming in. On May 30, A16z managing partner announced that the Andreessen Horowitz crypto and Web3 venture fund has donated $25 million to Fairshake and its affiliated PACs Defend American Jobs and Protect Progress.
This puts Andreessen Horowitz in direct competition with Ripple, as they also donated $25 million on May 29, bringing their total contributions for this year and 2023 to $50 million. With this latest donation, A16z’s total giving over two years now stands at $47 million, according to a tweet by Dixon.
Bipartisanship has been a crucial focus for the crypto industry as it seeks Democratic support in the upcoming November U.S. elections. Venture capital is also becoming more involved in politics, with Andreessen Horowitz entering the political arena in December. They pledged their support for pro-crypto and pro-AI candidates, with co-founder Ben Horowitz stating that high-quality regulation can foster industry growth while protecting consumers.
Having already invested at least $7.6 billion in the crypto industry, starting with their investment in Coinbase in 2013, Andreessen Horowitz is making a significant impact. Meanwhile, Fairshake has a substantial amount of its contributions still available, having spent $11.3 million as of May 29, according to nonprofit Open Secret. Bloomberg reports that the organization has raised $135 million in contributions, with the majority of their spending, $10 million, going towards negative advertising against Democratic candidates.
One notable target of Fairshake’s ad campaign was U.S. Representative Katie Porter, who was running for a California Senate seat. The Sacramento Bee has stated that the campaign against her was largely false. There is anticipation surrounding whether the super PAC will support crypto lawyer John Deaton in his Senate race against outspoken crypto opponent Elizabeth Warren in Massachusetts.
While Fairshake confirmed the Ripple and A16z contributions to Cointelegraph, spokesman Josh Vlasto declined to provide further comments. As crypto voters have already exerted their influence in the 2024 presidential election, many are curious to see how their impact will continue to shape future political landscapes.