Andreessen Horowitz donates $25 million to Fairshake Super PAC Andreessen Horowitz donates $25 million to Fairshake Super PAC
The transaction follows an equivalent donation from Ripple.
2 min read
Updated: May. 31, 2024 at 12:51 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
VC firm Andreessen Horowitz (a16z) donated $25 million to Fairshake and related entities, a16z crypto Managing Partner Chris Dixon said on May 30.
Dixon said the donation would help Fairshake support bipartisan US candidates, promote entrepreneurship, and advance clear rules for digital assets.
He added:
“…we need to keep up the momentum and show that the U.S. can lead in creating the next wave of blockchain innovation.”
The transaction is not listed on the Federal Election Commission (FEC) website. A report from Bloomberg states that the company confirmed Dixon’s original announcement.
The latest donation brings a16z’s total FairShake donation to $47 million, following a previous donation estimated at $20 million. Company founders Ben Horowitz and Marc Andreessen personally donated $9.5 million each to Fairshake in 2023.
Crypto political issue
Crypto has become an election issue in the US amidst the latest donations.
Republican presidential candidate Donald Trump recently declared himself “positive and open-minded to cryptocurrency companies” and began to accept crypto donations for his campaign.
Meanwhile, the Biden administration is seeking help from the crypto industry to revamp its policy for the digital asset industry. The change represents a shift from the Democratic Party’s past strategy, defined by enforcement efforts from Gary Gensler’s SEC and restrictive legislation proposals such as Elizabeth Warren’s Digital Anti-Money Laundering Act.
Despite party lines, certain developments have seen bipartisan support, such as a recent House vote on the Financial Innovation and Technology for the 21st Century Act (FIT21).
Fairshake’s support of members of both parties, notably including Republican Rep. Dusty Johnson and Democratic Rep. Josh Gottheimer, provides another bipartisan means of supporting crypto.
Fairshake has raised $93 million to date
Fairshake raised nearly $92.9 million during 2023 and 2024.
On May 29, Ripple announced a $25 million donation to Fairshake, bringing its total donation to $50 million and urging for supportive crypto regulation.
Other donors include Kraken parent Payward Inc., Gemini founders Cameron and Tyler Winklevoss, Coinbase, Circle, Ark Invest, and related individuals.
Mentioned in this article
a16z 
Kraken 
Gemini 
Coinbase 
Circle 
Ark Invest 
Gary Gensler 
Elizabeth Warren 
Joe Biden 
Donald Trump 
Marc Andreessen Author 
Mike Dalton
Before transitioning to crypto writing in 2018, Mike studied library and information sciences. Currently, he resides on Canada's West Coast.
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In this article
a16z
Andreessen Horowitz (known as “a16z”) is a venture capital firm in Silicon Valley specializing in investing in seed, start-ups, early, mid-stage, growth, and late stage.
Kraken
Kraken is a San Francisco-based digital asset exchange in euro volume and liquidity that trades various currencies, including Canadian dollars, US dollars, British pounds, and Japanese yen.
Gemini
Gemini is a regulated digital asset exchange and custodian that allows customers to buy, sell, store, and stake digital assets in a regulated, secure, and compliant manner.
Coinbase
Coinbase is a digital currency exchange and wallet service that allows individuals to buy, sell, and store digital currencies, such as Bitcoin, Ethereum, and Litecoin.
Circle
Circle Internet Financial Ltd is a global internet finance company, built on blockchain technology and powered by crypto assets.
Ark Invest
ARK Investment Management LLC (ARK Invest) holds a precision lens on thematic investing.
Gary Gensler is an American government official and former investment banker who President Joseph Biden nominated to chair the U.S.
Elizabeth Warren is an American politician and former academic known for being fiercely anti-Bitcoin and anti-crypto.
Joe Biden, byname of Joseph Robinette Biden Jr., is an American politician and the 46th and current president of the United States.
Donald John Trump was born on June 14, 1946, in Queens, New York City.
Marc Andreessen has solidified his position as a formidable force in the technology and venture capital sectors as the co-founder and general partner of Andreessen Horowitz, a prominent venture capital firm.