From Investing.com: 2024-06-04 18:06:00

Ripple, a U.S. crypto firm, leads record fundraising for crypto-friendly political candidates in the 2024 elections. Super PAC Fairshake backed by the crypto industry raises $92.9 million, with Ripple as second-largest donor. Lobbying efforts aim to support regulations desired by the industry as it faces increased scrutiny from regulators and politicians.

Ripple President Monica Long is “optimistic” about the impact of industry lobbying on U.S. elections. Super PAC Fairshake focuses on supporting candidates backing crypto regulations. The industry pushes for legislation limiting SEC oversight, despite facing challenges in winning public support and dealing with ongoing lawsuits.

Crypto groups seek to influence lawmakers amid increased SEC scrutiny and calls for regulation. Ripple, facing a $2 billion fine in a securities law case, aims to change the SEC’s approach to the industry. Despite challenges, the industry continues to advocate for favorable regulations to drive growth and innovation in the cryptocurrency space.



Read more at Investing.com: Crypto industry’s lobbying drive will pay off in US elections, Ripple president says By Reuters