The US cryptocurrency industry is rallying behind political candidates who support crypto-friendly policies. Through the Fairshake Political Action Committee (PAC), a non-profit organization advocating for social and economic justice, over $78 million has been raised from leading venture firms, exchanges, and crypto industry leaders. Notable contributors include Andreessen Horowitz, Ark Invest, Coinbase, Circle, and Ripple, among others.
The funds raised will be used to support bipartisan campaigns in the 2024 federal elections. This move comes as dissatisfaction with the current financial system grows, particularly among younger generations. Only 9 percent of Americans feel satisfied with the status quo, with just 7 percent of 18-40 year olds believing that the current framework works for them.
With over half of this growing demographic already using crypto to some extent, crypto donors aim to bring about updates to financial rules that better serve younger generations. Fairshake aims to demonstrate grassroots momentum by signing up one million members. So far, 215,000 supporters have registered within the past few months to advocate for crypto-forward policies.
According to Fairshake, 19% of Millennials and 9% of Gen Z adults believe that the American Dream is achievable. In the 2024 elections, half of these individuals are likely to support crypto-friendly candidates. The choice between candidates who understand the importance of a more inclusive and efficient financial system and those who support traditional, less flexible financial institutions will be crucial for the crypto industry.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | |
| Sentiment | very positive |
| Relevance Score | 1 |
| People | Ripple, Circle, Coinbase, Andreessen Horowitz, Ark Invest |
| Companies | Ripple, Circle, Coinbase, Andreessen Horowitz, Ark Invest |
| Currencies | None |
| Securities | None |
