CandleFocus

Crypto Money Won the Election—And It Could Just Be Getting Started

Author: Content Editor
Fairshake, a crypto super PAC funded by companies like Coinbase, Ripple, and Andreessen Horowitz, emerged as a major winner in the recent US election. Despite the odds, Fairshake supported and helped elect almost every candidate it backed, including both Democrats and Republicans. The PAC donated over $1 million to 22 congressional candidates, with the majority of them winning their races. This success has validated the efficacy of super PACs and the influence of crypto money in politics. The $300 million invested by crypto companies into Fairshake's lobbying efforts is expected to yield significant returns, signaling to other industries the power of organized political support. Opposing the crypto industry has proven to be a costly decision for lawmakers, and the election results have solidified the industry's position in Washington DC. This election marks a turning point for the crypto industry, elevating it from an experimental sector to an established presence in Capitol Hill.

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