Fairshake is one of the US's largest super PACs. Most of its contributions come from Coinbase, Ripple and a16z. However, there are some smaller fish in the mix.
Coinbase, Ripple and Andreessen Horowitz are funding heavyweights in the 2024 election.
The three companies and their staff have donated about $136 million to Fairshake, a pro-crypto super PAC. News.
That's about 84% of the nearly $162 million in donations sent in June to the PAC, a political action committee that can raise unlimited funds to spend indirectly on political campaigns.
Buried beneath the tens of millions from crypto billionaires are donations from the crypto proletariat.
We all know who the biggest donors are, so who are the randos?
Donors are named
According to the Federal Election Commission, committees are required to disclose the names of contributors who have donated $200 or more. Open SecretsA nonprofit that tracks the flow of money in American politics.
For Fairshake, there was only $3,600 in consolidated individual contributions, or contributions of less than $200 that did not require the PAC names to be attributed.
There were only 44 donors, and only nine gave less than $1,000, according to their analysis. News.
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Among the smaller fish are a real estate broker outside New York City, a software developer in Oklahoma and a salesperson in North Carolina.
small money
when News Called Ryan Wilde, who lives near Seattle, he was surprised to find he was one of the few listed in the FEC's database of donors for the super PAC.
“The Winklevoss didn't call me over for coffee or anything like that,” he said, referring to the billionaire twins who co-founded crypto exchange and custodian Gemini and donated $5 million to Fairshake.
Wilde describes himself as a “recovering industrial designer”. He now trades crypto and common stocks, options and futures for a living.
He also writes for the newsletter and provides analysis for Seeking Alpha, a financial news site.
“Obviously, I'm very pro crypto,” he said. “I am saddened by the position of politicians against crypto and I will do anything to stop this.”
He donated $500 to Fairshake in December.
When asked how it felt to rub shoulders with crypto's most high-powered executives on the list, he remained humble.
“I didn't come from big money, and I'm not going to go with big money,” he said. “I care about the place.”
Making waves
Brannon Thames, who lives in Tampa, also didn't donate much money.
He is an executive partner at Thames & Associates, which represents various manufacturers in the water utility business. Companies Pipes or “post hydrants and flushing devices” are produced.
Thames Is a Bitcoin Maxi, and He's Frustrated by President Joe Biden's Administration Proposed Tax on Bitcoin Miners.
“I want proper, logical, calm, regulation with comment period,” he said News.
Contributors to Fairshake, such as Coinbase or Ripple, deal with “shitcoins,” a term used to describe many other cryptocurrencies.
Thames recognized that joining the “shitcoins” would put him in bed with those who did not believe him. “It's a weird dynamic,” he said.
Still, in June, he donated $500 to Fairshake because he said it was one of the few ways he could politically promote bitcoin's cause at the federal level.
“This is the first year I've donated to any political candidate or any kind of group for politics,” he said, later adding: “I'm not making any waves in any way. It feels good to at least try to take a stand.”
And he was right not to make waves. According to an analysis from NewsOnly 2% of all donations to Fairshake through June were less than $1 million.
Ben Weiss is the Dubai correspondent News. Got a tip? Email him [email protected].