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$25 Million Ripple for Crypto Education Amid Growing Prominence in 2024 Elections
Ripple highlighted the 2024 US election as a pivotal moment for the cryptocurrency industry, according to a May 29 article declaration.
In response, the company donated $25 million to Fairshake, a federal super PAC that supports pro-cryptocurrency and pro-innovation candidates. This contribution increases The one from Ondulazione the total donation to the committee amounts to $50 million.
In particular, Fairshake did this attracted funding from major players in the cryptocurrency industry, including CoinbaseGemini and venture capital firms Andreessen Horowitz.
Cryptocurrency education
Ripple criticized the Securities and Exchange Commission (SEC) application-centric approach to the emerging industry, claiming that it has proven ineffective.
The company pointed out that while Congress is making strides towards comprehensive crypto legislation, the United States still lags behind other nations with more favorable regulatory frameworks.
As a result, Ripple CEO Brad Garlinghouse said the company is donating to initiatives that educate voters about the future role of cryptocurrencies and the risks posed by anti-cryptocurrency politicians. He stated:
“Ripple will not – and the cryptocurrency industry should not – remain silent while unelected regulators actively seek to impede the innovation and economic growth that millions of Americans enjoy. The cryptocurrency industry intends to remain heavily invested in this effort until we see significant changes.”
American voters are increasingly supportive of cryptocurrencies
Meanwhile, a recent survey on Grayscale reveals growing pro-crypto sentiment among Americans, driven by significant macroeconomic developments and the maturation of the industry.
According to the survey, approximately 47% of American voters plan to include cryptocurrencies in their investment portfolios. Additionally, approximately 32% of voters expressed an increasing interest in learning about cryptocurrencies as an investment.
The survey also found greater attention on Bitcoin, stimulated by critical events such as the commercial Bitcoin ETF approval in January and April Bitcoin halving event.
Grayscale concluded that the survey showed that politicians and candidates in the 2024 elections need to address cryptocurrencies in their policies due to their growing importance.