Hi HODLers, Hiveans and Lions,
As we have all cheered the 180* reversal from the Congress and bother US parties, A16z still thinks there is a LOT to be done and is continuing to boost its "Crypto's Election Fund". They just added another $25mn which allows the industry's commitment to pass the $100mn mark!
The other funding force has been Ripple. A16z and Ripple have now each committed nearly $50mn into the industry's shared Fairshake PAC.
A PAC is a vehicle where individuals and companies can donate. A PAC is supposed to have a clear goal, in this case it would be to push the crypto industry forward.
What are they actually doing?
The political action committee's has so far supported several crypto-friendly winners in congressional primaries, often flooding the local markets with significant advertising dollars.
It surely seems like it has been working so far and hopefully it will continue to! Good luck!
Stay safe out there,