Crypto-focused Political Action Committee (PAC) Fairshake is reportedly garnering significant financial backing as the United States prepares for the upcoming presidential race. According to CNBC, various crypto companies, including Ripple, Coinbase, and Andreessen Horowitz (a16z), have joined forces with the aim of influencing the outcome of the 2024 election. These companies have made donations to Fairshake, resulting in the super PAC raising $160 million by the end of May.

Faryar Shirzad, the chief policy officer at Coinbase, explains that crypto companies are uniting to ensure their voices are heard. He states, “We had an interesting realization that the only way to remove politics from crypto was to establish a political operation that levels the playing field and allows the millions of Americans who own crypto to participate in the process.”

While Fairshake does not plan on getting involved in the presidential election, its focus will be bipartisan, concentrating on candidates running for seats in the House and the Senate. Earlier this month, Coinbase announced a donation of $25 million to Fairshake SuperPAC in support of pro-crypto politicians. Ripple and Andreessen Horowitz have also contributed $25 million each to Fairshake.

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