Summary
TLDR: Crypto companies and executives are donating millions to super PACs in preparation for the 2024 election. Top donors include Coinbase, Ripple Labs, and Andreessen Horowitz. Super PACs intend to support candidates who back American crypto and blockchain innovation. Some funds have been used for advertising campaigns, including backing candidates against Senator Elizabeth Warren, who has made crypto regulation a key part of her platform.
Key Points
1. Crypto companies and executives are increasing their influence in Washington through significant donations to crypto-focused super PACs.
2. Top donors in the space include companies like Coinbase and Ripple Labs, as well as individuals like Marc Andreessen and Ben Horowitz, who have collectively contributed millions of dollars to support leaders who advocate for crypto and blockchain innovation.
3. Super PACs like Fairshake, Protect Progress, and Defend American Jobs have not yet donated to individual candidates but have started directing funds towards advertising campaigns to support friendly politicians, with a focus on promoting California jobs and innovation in the upcoming 2024 elections.