The company’s $25 million investment supports pro-cryptocurrency leadership
San Francisco, May 29, 2024–(BUSINESS WIRE)–Ripple, a leading provider of enterprise blockchain and crypto solutions, today announced it is donating $25 million to FairShake, a federal super PAC committed to supporting pro-crypto and pro-innovation political candidates in the 2024 elections. The investment is in addition to the $25 million Ripple donated to FairShake in 2023. Ripple's donation, along with donations from other crypto companies and leaders, is part of an industry-wide effort to advance policies that support the next generation of financial innovation in the United States.
The Securities and Exchange Commission's approach to forcefully regulating cryptocurrencies has failed. Congress is now working to enact comprehensive legislation for the crypto industry to ensure a bright future for U.S. innovation, competitiveness, and growth, but the United States continues to lag behind other responsible countries that have embraced cryptocurrencies and the innovative technology that underpins them. The time for the U.S. to act is now. Ripple is proud to invest in this effort and help shape a positive regulatory environment in the United States.
“Donating to FairShake is just one of many ways Ripple is actively educating voters about the future role of cryptocurrencies and the dangers of the anti-crypto stance held by some policymakers in Washington,” it said. Ripple CEO Brad Garlinghouse“Ripple, and the cryptocurrency industry, will not remain silent while unelected regulators actively attempt to thwart the innovation and economic growth that millions of Americans rely on. The cryptocurrency industry will continue to invest heavily in this effort until we see meaningful change.”
The 2024 election will be the most important in the history of cryptocurrency. The choice will be between candidates who recognize the potential of cryptocurrency and blockchain to advance financial innovation and those who will hinder technological progress. We must elect leaders who understand this potential and support policies that protect consumers and markets in a fair and innovation-promoting way. In this election, the cryptocurrency community intends to hold policymakers accountable for their role in expanding or limiting U.S. jobs and economic growth in the cryptocurrency economy.
About Ripple
Ripple is a leader in enterprise blockchain and crypto solutions, transforming how the world moves, manages, tokenizes and stores value. Ripple's business solutions are faster, more transparent and more cost-effective, solving inefficiencies that have long defined the status quo. We also work with partners and a large developer community to identify use cases where crypto technology can inspire new business models and create opportunity for more people. With all our solutions, we enable a more sustainable global economy and planet, increasing access to an inclusive and scalable financial system while leveraging carbon-neutral blockchain technology and a green digital asset, XRP. This is how we deliver on our mission to build crypto solutions for a world without economic boundaries.
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