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Ripple Labs CEO Brad Garlinghouse has become one of the leading advocates for pro-cryptocurrency policy initiatives in the U.S. He recently announced that Ripple has donated an additional $25 million to Fairshake, a political action committee (PAC) that advocates for favorable regulation of the cryptocurrency sector in the U.S. This is Ripple’s third major donation, underscoring their commitment to changing the laws surrounding digital assets in the U.S.
Fairshake PAC – A New Force in Cryptocurrency Policy
Fairshake PAC was created in response to the aggressive policies of the SEC under the chairmanship of Gary Gensler, who filed over 120 lawsuits against cryptocurrency companies, including Ripple, Coinbase, Binance, and many others. Garlinghouse emphasizes that if not for the SEC’s policies, an organization like Fairshake likely would not have been created, as cryptocurrency companies would be able to operate in a more favorable legal environment.
The aim is to support pro-innovative candidates
Fairshake is not a committee that has influence over specific political parties. Its mission is to support candidates who support the development of new technologies and strive to create balanced and friendly regulation for cryptocurrencies. The organization managed to raise as much as $85 million to support such candidates in the upcoming US elections.
With these funds, Fairshake PAC aims not only to finance elections, but also to fight the current state of law that is not conducive to the development of blockchain technology and cryptocurrencies. The organization's investor list also includes well-known figures from the cryptocurrency world, such as the Winklevoss brothers, who donated $4,9 million.
Ripple and its impact on the industry
Ripple and Garlinghouse’s investments in pro-cryptocurrency projects have a significant impact on the future of the industry. By supporting initiatives such as Fairshake, Ripple is becoming one of the key players that not only promote blockchain technologies, but also fight for their legalization within the global financial systems. Supporting such organizations provides a chance to transform US regulations, which could translate into global growth of the cryptocurrency market.
Summation
Brad Garlinghouse and his investments in Fairshake PAC are just one example of Ripple's activity in the cryptocurrency market. The company is involved not only in the development of blockchain technology, but also in the fight for better legal regulations for the entire industry. For investors and cryptocurrency enthusiasts, this means a chance for greater investment security and further market development. It is worth following the activities of such organizations that have a real impact on shaping the future of the cryptocurrency sector.
