Ripple Doubles Contribution to Fairshake PAC Warchest To Ensure Crypto Is Front and Center During 2024 Elections

Company’s $25 Million Investment will Support Pro-Crypto Leadership

SAN FRANCISCO--(BUSINESS WIRE)--Ripple, the leading provider of enterprise blockchain and crypto solutions, announced today a $25 million contribution to Fairshake, a federal super PAC committed to supporting pro-crypto, pro-innovation political candidates during the 2024 elections. This investment is in addition to the $25 million Ripple contributed to Fairshake in 2023. Ripple's contribution, along with those from other crypto firms and leaders, is part of an industry-wide effort to advance policies that support the next generation of financial innovation in the U.S.

The Securities and Exchange Commission’s approach of trying to regulate crypto by enforcement has failed. Although Congress is now advancing comprehensive legislation for the crypto industry to secure a promising future for American innovation, competitiveness, and growth, the U.S. has fallen behind other responsible countries that have embraced crypto and the innovative technology that underpins it. The time for the U.S. to act is now. Ripple is proud to invest in this effort and contribute to shaping a positive regulatory landscape in the U.S.

"Our contributions to Fairshake are just one of the many ways Ripple will actively invest in educating voters on the role crypto will play in the future and the dangers of the anti-crypto stance some policymakers are clinging to in Washington," said Ripple CEO Brad Garlinghouse. "Ripple will not - and the crypto industry should not - keep quiet while unelected regulators actively seek to impede innovation and economic growth that millions of Americans utilize. The crypto industry intends to remain heavily invested in this effort until we see meaningful change."

The 2024 elections will be the most consequential in crypto's history - setting up a choice between candidates who see the promise of crypto and blockchain to advance financial innovation and candidates who stand in the way of technological progress. We must elect leaders who understand this potential and support policies that protect consumers and markets in ways that are fair and innovation-forward. This election, the crypto community intends to hold policymakers accountable for their role in expanding or limiting U.S. jobs and economic growth in the crypto economy.

About Ripple

Ripple is the 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. And together with partners and the larger developer community, we identify use cases where crypto technology will inspire new business models and create opportunity for more people. With every solution, we’re realizing a more sustainable global economy and planet - increasing access to inclusive and scalable financial systems 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 borders.