Election 2024
U.S. Election Betting: Regulated Presidential Markets Are Live, and Tiny Compared to Polymarket's
Published
3 months agoon
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adminWith a month to go before Election Day, Kalshi and Interactive Brokers have listed prediction markets on the race for the White House.
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Ripple Drops Another $25M Into Crypto PAC to Sway 2026 Congressional Races
Published
4 weeks agoon
November 27, 2024By
adminRipple Labs has kicked in another $25 million to the cryptocurrency industry’s Fairshake political action committee, one of the most aggressive and high-dollar campaign-finance operations in corporate history.
The super PAC has made an unprecedented head start on the 2026 election cycle. Between Ripple, crypto exchange Coinbase (COIN) and venture capital firm Andreessen Horowitz (a16z), Fairshake has amassed $73 million in fresh commitments. That’s on top of $30 million held over from the 2024 cycle.
The PAC is still awaiting the results in one U.S. congressional contest in the Nov. 5 elections, but Fairshake’s track record includes backing at least 53 members of next year’s Congress.
“Fairshake is the most successful multi-candidate, bipartisan super PAC in American history,” Ripple CEO Brad Garlinghouse posted Tuesday on X (formerly Twitter). “Electing pro-crypto, pro-growth and pro-innovation candidates is a no-brainer, and to continue that momentum, Ripple is contributing another $25M to Fairshake.”
The $103 million war chest makes Fairshake an unmatched political force to influence the session beginning in 2027, more than two years and a whole congressional cycle from now.
Ripple, Coinbase and a16z made up the vast bulk of resources Fairshake devoted to congressional races in an attempt to ensure pro-digital assets candidates would pass legislation during the session beginning in January. The industry has waited for years for the U.S. government to clarify its rules for this sector, and the resulting uncertainty has left a lot of potential business on the sidelines.
None of the three companies will comment on how decisions are made in the operation of Fairshake, nor how they guide the super PAC’s strategy. But Fairshake’s spokesman, Josh Vlasto, has said the political strategy is a transparent support of crypto advocates from either party who are willing to work across the aisle on legislation.
Each of the three companies has now participated in three rounds of funding for the PAC, each at approximately the same level. The other two had already jumped into the post-election support, and Ripple is now joining them, bringing the company’s overall support to about $73 million.
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Donald Trump
What Does Trump's Win Mean for Crypto?
Published
1 month agoon
November 16, 2024By
adminDonald Trump and the Republican Party at large had a strong 2024 election, winning the presidency, Senate and House. This almost certainly guarantees crypto legislation will advance and become law sometime in the next two years. It also heralds a potentially softer approach from regulators toward the sector.
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Donald Trump
Here’s How Quickly Gary Gensler Could Lose His SEC Chair Gig Under Trump
Published
2 months agoon
November 7, 2024By
adminGensler has been on the forefront of those actions, being openly skeptical of cryptocurrencies. Just last month, he reiterated his views haven’t changed. Speaking at NYU’s School of Law in Manhattan in October, he said: “With all respect, the leading lights of this field in 202[4] are either in jail or awaiting extradition right now.”
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