2024-7-16 02:30 |
Coinbase, Ripple, and Andreessen Horowitz (a16z) plan to send representatives to the Republican National Convention (RNC) and, later, the Democratic National Convention (DNC).
On July 15, Politico said the firms would first “make their case to GOP power brokers” to support an election outcome that produces policies favorable to the industry, highlighting widespread Republican support for the crypto sector.
Politico emphasized the growing importance of crypto, quoting Rep. Dusty Johnson (R-S.D.), who called crypto an “issue that more and more people are finding an interest in.”
Attendance at the RNC and DNC represents each company’s continued commitment to bipartisan crypto policies. The three firms are members of the Fairshake super PAC, which has raised $177.9 million and spent 70.9 million during the 2024 election cycle. The super PAC aims to benefit US candidates who support crypto regardless of party membership.
It is unclear whether company representatives have arrived at the RNC, which concludes on July 18. The DNC, meanwhile, is scheduled to run from Aug. 19 to Aug. 24.
The companies did not respond to CryptoSlate’s request for comment as of press time.
Parties divided on cryptoThe firms’ attendance at each convention follows the release of new party platforms.
Following a July 9 vote, the RNC added various crypto issues to its 2024 platform. The outline opposes a central bank digital currency (CBDC) and the Democratic party’s enforcement actions against the crypto sector.
It supports protecting crypto mining and self-custody rights and says crypto transactions should be free from government surveillance and control.
The policy aligns with Donald Trump’s stance on crypto, as expressed during recent campaign appearances. The RNC confirmed Trump as its presidential candidate following a vote on July 15.
On July 13, the DNC published its draft platform, which did not include any mention of crypto. The Biden administration and Democrats have been criticized for their strict treatment of the sector despite the administration’s 2022 executive order aiming to promote responsible development of digital assets.
The post Coinbase, Ripple, a16z to attend Republican and Democratic National Conventions appeared first on CryptoSlate.
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