Coinbase, Ripple, and Andreessen Horowitz (a16z) have made the strategic decision to send representatives to both the Republican National Convention (RNC) and the Democratic National Convention (DNC). Their goal is to engage with key figures in both parties and advocate for policies that are favorable to the crypto industry. This move highlights the firms’ recognition of the growing importance of the crypto sector in the political landscape.
These three companies are all members of the Fairshake super PAC, which has amassed a significant amount of funding – $177.9 million – for the 2024 election cycle. The super PAC is dedicated to supporting US candidates who prioritize crypto issues, irrespective of their party affiliation. By participating in both the RNC and DNC, Coinbase, Ripple, and a16z are showcasing their commitment to promoting bipartisan crypto policies.
Policy Alignment
The RNC recently updated its 2024 platform to address various crypto-related issues. The platform takes a firm stance against the idea of a central bank digital currency (CBDC) and criticizes the Democratic party’s regulatory actions towards the crypto sector. Instead, the RNC platform advocates for the protection of crypto mining and self-custody rights, as well as emphasizing the importance of keeping crypto transactions free from government intervention.
It is unclear whether the company representatives have already made an appearance at the RNC, which is set to conclude on July 18. The DNC is scheduled to take place from August 19 to August 24, giving the firms an opportunity to engage with Democratic leaders as well. Despite multiple attempts to reach out for comments, the companies have chosen not to respond to inquiries as of press time.
Overall, Coinbase, Ripple, and Andreessen Horowitz’s decision to participate in both the RNC and DNC demonstrates their proactive approach to advocating for crypto-friendly policies across party lines. By actively engaging with political decision-makers, these firms are positioning themselves as key players in shaping the regulatory landscape for the crypto industry in the United States.
