Andreessen Horowitz Donates $25 Million to Fairshake PAC
- The firm has been active in lobbying for the crypto industry
- Crypto’s political presence is growing ahead of 2024 election
Venture capital firm Andreessen Horowitz donated $25 million to the political action committee Fairshake, the latest large donation from a digital-asset firm to support crypto-friendly candidates ahead of looming US elections.
The move shows the crypto industry’s growing political presence before the November presidential and Congressional races. Crypto payments company Ripple Labs announced a $25 million donation to Fairshake on Wednesday. The super PAC paid for attack ads against anti-crypto Democratic Representative Katie Porter, who lost a Senate primary election in California in March. Fairshake and its allied super PACs have raised $135 million with the additional $50 million from Andreessen Horowitz and Ripple, while crypto donors have poured more than $146 million into federal committees since 2023, according to a Bloomberg analysis of Federal Election Commission data. Andreessen Horowitz’s $25 million donation to Fairshake is currently not reflected on the FEC website.