The results of the 2024 election may still be days away, but some crypto support industry backers are already focused on the next Congress.
Just 48 hours before the polls close for the 2024 U.S. elections, a political action committee (PAC) announced that it has raised millions to back pro-crypto candidates in the 2026 midterms.
On Nov. 4, Fairshake PAC shared that it received $48 million in contributions from crypto exchange Coinbase and venture firm Andreessen Horowitz, adding to $30 million already saved.
Coinbase CEO Brian Armstrong donated $25 million on Oct. 30, while Andreessen Horowitz contributed $23 million.
“We’ve seen a big change in how both parties see crypto and blockchain,” said a Fairshake spokesperson, adding:
“We look forward to continuing our strategy of supporting candidates on both sides of the aisle who believe in advancing American innovation, creating jobs, and working together to pass responsible regulation.”
Harris and Trump pledge strong crypto support for 2024
In the 2024 U.S. elections, crypto supporters have given millions through PACs like Fairshake and its affiliates to back both Democratic and Republican candidates with ads and media support.
A big part of this spending has gone to the Ohio Senate race, where Republican Bernie Moreno hopes to replace Democrat Sherrod Brown, who leads the Senate Banking Committee.
With Election Day on Nov. 5, results for many races are expected to be very close. It’s uncertain if Republicans will keep control of the House or if Democrats will keep the Senate in 2025. The presidential race between Vice President Kamala Harris and Donald Trump is also too close to call.
Both Harris and Trump have promised to support the crypto industry if elected, with Trump’s campaign appealing to crypto voters at the last minute.
There has been a lot of misinformation about each candidate’s crypto policies on social media. On Oct. 30, MicroStrategy’s Michael Saylor shared a fake quote of Trump supposedly wanting to change taxes on Bitcoin.
At the press time Bitcoin BTC is trading at $68050 and its down 0.20 % data collect from CoinMarketCap.
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