AccordingtofilingswiththeUnitedStatesFederalElectionCommission,MarcAndreessenandBenHorowitzeachdonated$2.5milliontoapro-TrumpsuperPACcalledRightForAmerica.
TheirsupportforTrumpisbasedonhispoliciesbeingseenasbeneficialtothecryptoindustryandstartups,whichtheycallthe“littletechagenda,”accordingtoaBloombergreportonOct.16.
Andreessenalsogaveanadditional$844,600—thefederallimitfordonations—toTrump’scampaignandtheRepublicanParty.
DonationsRollingIn
Earlierthismonth,HorowitzmadeasurprisingannouncementthathewouldalsobemakingadonationtoVicePresidentKamalaHarris’campaign,however,therehaveyettobeanyrecordsofit.Theventurecapitalistalsodoesn’tknowhercryptopolicies,asshehassaidverylittleabouttheindustry.
Inasomewhatbizarremove,Rippleco-founderandchairmanChrisLarsenrecentlycontributed$1millionworthofXRPtokenstoFutureForward,asuperPACsupportingtheHarrispresidentialcampaign,accordingtoCNBC.TheDemocrat-controlledSECsuedthefirmin2020andhasdraggedoutthelegalbattleforthepastfouryears.
TheRightForAmericasuperPAChasraised$27.8millionandhad$43.6millioncashonhandforthefinalweeksofthecampaign,reportedBloomberg.ItisfocusingmostofitsspendingintheswingstatesofArizona,Georgia,andPennsylvania.
InJuly,Horowitzsaid,“I’mgoingtohavealotoffriendswhoareprobablypissedoffatmeforsayinganythingniceaboutPresidentTrump”beforeaddingthathewastherightchoicefor“littletech.”
Additionally,RepublicanbillionaireMiriamAdelsonhasshelledout$95milliontothepro-DonaldTrumpPreserveAmericaPAC.ElonMuskhasalsopledgedfinancialsupporttopro-TrumpsuperPACs.
AccordingtoOpenSecrets,RepublicancandidatesleadtheirDemocratcounterpartsintermsofPACdonationsreceivedin2024.
CryptoPACPopularity
Crypto-focusedsuperPACshavebecomeincreasinglyprominentinrecentyearsasthedigitalassetindustryseekstoinfluencepolicyandregulation.
Thesecommitteesoftensupportcandidateswhoareseenasfavorabletocryptointerests,includingthosewhoadvocateforlessstringentregulationofdigitalassets.
AccordingtoaPublicCitizenreportinAugust,digitalassetcorporationsarethedominantcorporatepoliticalspendersin2024,with44%ofallsuchmoneycontributedduringthisyear’selections,totaling$274millionsofar,comingfromcryptobackers.
Thecryptosector’sFairshakePACanditsaffiliateshaveraisedover$200million,accordingtoOpenSecrets.
cryptopotato.com