tl;dr
Ripple has donated $25 million to Fairshake, a federal crypto super PAC, bringing its total contribution to $50 million. This donation, part of an industry-wide effort, aims to support crypto-friendly Congressional candidates and advance policies favorable to financial innovation in the U.S. Ripple ...
Ripple has donated $25 million to Fairshake, a federal crypto super PAC, bringing its total contribution to $50 million. This donation, part of an industry-wide effort, aims to support crypto-friendly Congressional candidates and advance policies favorable to financial innovation in the U.S. Ripple CEO Brad Garlinghouse emphasized the need to educate voters on the role of crypto and to push for a positive regulatory landscape. The move is seen as a response to the SEC's attempt to regulate crypto through enforcement, which Ripple believes has failed.
Ripple has added another $25 million to the coffers of Fairshake, a federal crypto super political action committee (PAC) that’s spending big this election year to support crypto-friendly Congressional candidates. Ripple also made a $25 million donation to Fairshake in 2023, bringing its total contribution to the political action committee (PAC) to a whopping $50 million. Ripple’s donations account for roughly half of the more than $100 million Fairshake has raised from major players in the crypto space, including crypto exchanges Coinbase and Gemini, venture capital firm Andreessen Horowitz and asset manager ARK Invest.
In a Wednesday announcement, Ripple attributed its contribution to Fairshake as “part of an industry-wide effort to advance policies that support the next generation of financial innovation in the U.S.” The announcement specifically discussed the role of federal regulators, saying that the U.S. Securities and Exchange Commission’s (SEC) approach of “trying to regulate crypto by enforcement has failed” and that the U.S. must act now to craft a “positive regulatory landscape” for crypto that will foster innovation.
"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 in a press statement. "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."
In 2020, the SEC accused Ripple of violating federal securities laws, kicking off a bitter years-long court fight that remains ongoing.
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Industry
Manufacturing
Primary Activity
Drawing & Insulating of Nonferrous Wire
Annual Revenue
$22,067,900
Earnings per Share (EPS)
-0.02
Price-to-Earnings Ratio (P/E)
8.76
Dividend Yield
-0.0025
Volume
68,745,000
Market Capitalization
$0
Beta (Volatility)
-0.188
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Industry
Energy & Transportation
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Key Financials
Market Cap: $9.769 billion
Current Price: $16.94
Dividend Yield: 0%
P/E Ratio: 11.37
EPS: $4.558
Beta: 0.288
Revenue: $33.379 billion
Net Income: $187.63 million
ROE: -3.6%
Debt-to-Equity: 0.019