Fairshake’s $141M War Chest Targets Political Arena for Crypto Domination

Pro-crypto super PAC loads its cannons with nine-figure ammunition.

Political Gamechanger

Fairshake just turned the 2024 election into a blockchain battleground. The $141 million haul—one of the largest war chests in crypto history—aims to bulldoze regulatory roadblocks by backing candidates who won't treat digital assets like radioactive waste.

Follow the Money

The funds will target races where a single pro-crypto vote could swing committee decisions. Think digital asset oversight, stablecoin legislation, and those painfully slow SEC approval processes that make blockchain transactions look lightning-fast by comparison.

Wall Street's Worst Nightmare

Traditional finance lobbyists are scrambling. This cash injection could finally give crypto the political leverage to bypass the usual 'innovation-stifling-to-protect-our-legacy-margins' playbook. Because nothing terrifies bankers like a leveled playing field—except maybe a bear market.

Crypto Week pressure

Crypto critics like Molly WHITE pointed to the timing of Fairshake’s funding release as a strategic move to exert influence on the US Congress.

According to White:

“It’s no coincidence that the Fairshake crypto super PAC has timed its press release announcing they have $140 million ready for the midterms as Congress is considering three crypto bills during ‘Crypto Week.’ Pass our bills, or we will spend millions against you in the midterms.”

Notably, US lawmakers have begun debating three significant crypto-related bills during what has been dubbed “Crypto Week.” These bills aim to establish a clear framework for the emerging industry and enforce a ban on creating a central bank digital currency (CBDC).

Pro-crypto groups like the Cedar Innovation Foundation have rallied in favor of the proposed legislation. In a statement shared with CryptoSlate, the group called these bills “the most crucial votes Congress will cast this session.”

They also stressed that digital asset market reform is crucial for the future of American innovation, security, and economic opportunity. The Foundation added:

“We can no longer afford the hodgepodge of 100-year-old regulations to keep consumers protected and govern the foundational technology of the present. It’s time for clear and responsible rules of the road for crypto to protect consumers, unlock American developers, and create good jobs here at home.”