Cryptocurrency-focused Fairshake is now the largest super political action committee in this year's presidential election, with a war chest now exceeding $202 million.
What Happened:Tom Dunleavy, a managing partner at cryptocurrency investment firm MV Global, revealed on X that the total funds raised by the pro-cryptocurrency super PAC has now surpassed both the biggest Republican and Democratic PACs, Make America Great Again Inc and Senate Majority PAC, respectively.
Crypto now has the number one Super PAC in the US with over $200m raised Fairshake (crypto) now surpasses both the biggest Republican and Democratic Super Pacs: Make America Great Again (Republican) and Senate Majority (Dem). Source: OpenSecrets dot org pic.twitter.com/Poj8VWFYic
— Tom Dunleavy (@dunleavy89) July 29, 2024
Super PACs pool money from corporations, unions, and individuals but unlike traditional PACs, they are prohibited from donating money directly to political candidates.
Fairshake represents a coordinated effort to support and put political candidates in office who can further the interests of the cryptocurrency industry.
See Also: Cynthia Lummis' Push For Bitcoin Strategic Reserve Ridiculed By Economist Justin Wolfers: 'One Of The Most Amazing Word Salads I've Ever Read'
According to Open Secrets, the non-partisan super PAC has spent $14.42 million in this year's election cycle, with more than 90% of it spent against Democratic candidates.
Why It Matters: Fairshake's swelling arsenal highlights concerted efforts by big industry names to support pro-cryptocurrency candidates.
Cryptocurrency exchange Coinbase Global Inc. (NASDAQ:COIN) and blockchain-based firm Ripple Labs have spearheaded the financial contribution, with both pouring $45 million into Fairshake.
The significance of these super PACs comes as cryptocurrency rises as a big political issue in the upcoming elections.
Republican candidate Donald Trump has pivoted to a pro-cryptocurrency stance, vowing to make the U.S. the "crypto capital" of the world.
On the other hand, experts believe presidential hopeful Kamala Harris has a good opportunity to reset the Democratic Party's attitude on the issue, particularly after President Joe Biden's exit.
Price Action: At the time of writing, Bitcoin, the market bellwether, was trading at $66,437.12, plunging 4.52% in the last 24 hours, according to data from Benzinga Pro.
Photo by Avi Rozen on Shutterstock
Shiba Inu Burn Rates Shoots Up 4527% As Community Cheers Shibarium's 6M Block Feat
何が起こったか:cryptocurrency投資会社MV Globalの共同パートナーであるTom Dunleavy氏は、Pro-cryptocurrency超政治アクション委員会が今や最大の共和党と民主党のPACであるMake America Great Again IncとSenate Majority PACを上回ったことを年Xに明らかにしました。
現在、Cryptoは米国で最も強力なスーパーPACを擁し、2億ドルを超える資金を調達しています。 Fairshake(暗号通貨)は今や、世界で最も大きな共和党と民主党のスーパーパックであるMake America Great Again(共和党)とSenate Majority(民主党)を上回りました。 ソース:OpenSecretsドットorg pic.twitter.com/Poj8VWFYic
オーストラリアでは、moomooの投資商品及びサービスはMoomoo Securities Australia Limitedによって提供され、オーストラリア証券投資委員会(ASIC)の管理を受けております(AFSL No. 224663)。「金融サービスガイド」、「利用規約」、「プライバシーポリシー」などの詳細は、Moomoo Securities Australia Limitedのウェブサイトhttps://www.moomoo.com/auでご確認いただけます。
オーストラリアでは、moomooの投資商品及びサービスはMoomoo Securities Australia Limitedによって提供され、オーストラリア証券投資委員会(ASIC)の管理を受けております(AFSL No. 224663)。「金融サービスガイド」、「利用規約」、「プライバシーポリシー」などの詳細は、Moomoo Securities Australia Limitedのウェブサイトhttps://www.moomoo.com/auでご確認いただけます。