Crypto firms ramp up political contributions in the US

A bunch of companies like Coinbase, the Nasdaq-listed exchange, Circle, the stablecoin player, and a16z, which is the crypto investment branch of Andreessen Horowitz, are pouring more cash into getting pro-crypto lawmakers elected and trying to influence stalled legislation in Congress as we head into next year’s presidential election. They’re also joined by some big-name venture capitalists and digital asset investors like Ron Conway, Fred Wilson, and the Winklevoss twins. This week, Coinbase, Circle, and a16z were part of a group that invested $78 million into Fairshake, a federal super PAC that can take unlimited funds from companies and individuals to spend on elections, all aimed at supporting "pro-crypto leadership." Just a reminder, this isn’t just about investing in crypto itself, it’s about grabbing a piece of the market.