Tyler and Cameron Winklevoss have donated $4.9 million to the crypto-focused Fairshake political action committee (PAC) with the intention of supporting crypto-friendly candidates in the upcoming US elections. According to data from the US Federal Election Commission (FEC) and Fairshake’s latest federal filings on February 20, each of the Winklevoss twins contributed $2.45 million to the PAC.
Continued Interest in Fairshake
Fairshake reported having $72.8 million in cash at the end of the reporting period. Documents indicate that among Fairshake’s largest donors this year are Payward Inc., operating as the Kraken crypto exchange, which sent $750,000 on January 12, and Electric Capital Partners, which donated $500,000 on January 26.
Recent contributors to the PAC include Blockchain Capital, a venture capital firm that added $100,000 in January. According to OpenSecrets, in December, Fairshake received $14 million from crypto venture capitalists Marc Andreessen and Ben Horowitz of a16z, $5 million from Jump Crypto, $15.5 million from Coinbase, and $20 million from Ripple Labs.
Noteworthy Details About Fairshake
Fairshake team describes themselves as an organization committed to supporting candidates determined to make the United States the home for innovators building the next generation of the internet.
Many in the crypto industry see Fairshake as a critical player on the road to the 2024 US elections, as the crypto industry has faced increased scrutiny from lawmakers and regulators following a series of high-profile collapses over the past eighteen months.
Fairshake aims to support crypto-friendly candidates from both sides of the US political aisle to combat the industry’s heavy regulatory challenges. On February 13, a political ad tracker revealed that Fairshake spent $3.6 million against crypto-opponent Democrat California Senate candidate Katie Porter, marking its largest expenditure to influence an election to date.
On February 18, crypto critic Elizabeth Warren stated that the PAC could spend any amount of money necessary to stop her Senate candidacy. The 2024 US elections will take place in November, with all 435 seats in the House of Representatives, 33 seats in the Senate, and the Presidency up for grabs.
