Major Crypto Firms Launch $78 Million PAC to Advance Crypto-Friendly Policies in Washington
• Coinbase, Andreessen Horowitz, Circle and other major crypto companies have committed $78 million to a new PAC called Fairshake to advance crypto-friendly policies • The PAC has already spent over $300k supporting certain Congressional candidates favorable to crypto, especially Rep. Patrick McHenry • This coalition aims to counter the lobbying power of banks and big tech and make crypto a political force • It comes a year after the FTX collapse ended Sam Bankman-Fried's brief reign as crypto's top political donor • Coinbase sees political advocacy as part of an "all-of-the-above strategy" to make crypto top of mind for the public