Ripple Labs has donated $25 million to pro-crypto super political action committee (PAC) Fairshake in a bid to deepen the digital asset industry’s newly bought influence in Washington, D.C.
A super PAC collects campaign donations from corporations and affluent individuals and distributes the funds to political candidates who are likely to defend its donors’ interests on Capitol Hill.
Ripple Labs CEO Brad Garlinghouse said Tuesday in an X post that his firm would donate another $25 million to Fairshake to support the election of “pro-crypto, pro-growth and pro-innovation” legislators during the 2026 U.S. midterm elections. The crypto payments company’s latest donation to Fairshake comes just weeks after the super PAC proved massively successful in buying up congressional support for the crypto industry in the 2024 U.S. elections.
“Fairshake is the most successful multi-candidate, bipartisan Super PAC in American history,” Garlinghouse said Tuesday in the X post. “Electing pro-crypto, pro-growth and pro-innovation candidates is a no-brainer, and to continue that momentum, Ripple is contributing another $25M to Fairshake,” he stated.
Fairshake is the most successful multi-candidate, bipartisan Super PAC in American history.
Electing pro-crypto, pro-growth and pro-innovation candidates is a no-brainer, and to continue that momentum, Ripple is contributing another $25M to Fairshake. Onwards!
— Brad Garlinghouse (@bgarlinghouse) November 26, 2024
This latest donation marks the company’s third $25 million injection into Fairshake in the past year, campaign finance data shows. The splurges signal Ripple Labs’ commitment to deepening its sway on Capitol Hill, where the XRP-focused company has long advocated for the passing of a comprehensive digital assets regulatory framework and tussled with federal regulators, Ripple Labs Chief Legal Officer Stuart Aldertory said Tuesday on X.
“When Fairshake first started, Ripple committed to being a top tier supporter; before anyone knew what impact it might have,” Aldertory said in the X post. “Innovation is here to stay and we will remain a strong force in DC for years to come.”
When Fairshake first started, Ripple committed to being a top tier supporter; before anyone knew what impact it might have. Now, we’re making our third $25M contribution in as many years to the most successful PAC in US history. Innovation is here to stay and we will remain a… https://t.co/O4jkYBX9ca
— Stuart Alderoty (@s_alderoty) November 26, 2024
Ripple Labs’ donation comes just weeks after two of Fairshake’s largest donors—crypto exchange Coinbase and Andreessen Horowitz’s crypto-focused division a16z—donated another $25 and $23 to the committee, respectively.
To date, the super PAC has amassed at least $73 million for the 2026 U.S. midterm elections, according to public comments and records.
Fairshake didn’t immediately respond to Decrypt’s request for comment on Ripple Labs’ $25 million donation. Ripple Labs pointed to its CEO and CLO’s X posts on the matter, declining to provide additional comments on the donation.
Fairshake was the largest super PAC of the 2024 U.S. election cycle, accumulating a war chest of more than $200 million, according to non-profit campaign finance watchdog OpenSecrets’ data. The funds granted the committee outsized influence on the U.S. congressional races.
Of the 22 congressional candidates to whom Fairshake donated $1 million or more during the 2024 U.S. election cycle, at least 90% trounced their political opponents, OpenSecrets’ data shows.
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Source: https://decrypt.co/293599/ripple-25-million-crypto-super-pac-fairshake
