Jump Crypto has donated an additional $10 million to the crypto industry’s Political Action Committee (PAC), Fairshake. The firm had earlier donated $5 million, bringing its total tally to $15 million.

Several other crypto companies have poured in funds worth millions over the past few months. Right from Coinbase and Ripple to Marc Andreessen and Ben Horowitz of Andreessen Horowitz, and Cameron and Tyler Winklevoss of crypto exchange Gemini, a handful of stalwarts from the industry have made their contributions.

Since launch, Fairshake and its affiliates have amassed around $169 million via donations. The independent pro-crypto group is registered with the Federal Election Commission and supports candidates via its activities.

It is looking to usher in members into the legislature who could help formulate and provide clarity with respect to digital asset regulation in the United States.

Spokesman Josh Vlasto asserted,

“We will continue to support candidates who are committed to getting things done and working with the industry to pass responsible regulation that drives innovation, creates jobs, and sustains America’s global leadership."

He also went on to acknowledge that the crypto and blockchain communities have “truly come together” to form a sustainable bipartisan coalition. Ultimately this will prove to be fruitful over the long term.

The group has no intentions to support presidential candidates. At the moment, they are focussing only on pro-crypto office bearers.

Irrespective of the outcome of the upcoming elections in November, the committee will “have the resources to affect races in 2024 and beyond,” the spokesperson affirmed.

A couple of days back, Fairshake shelled out a sum of more than $2 million on a media campaign combating Democratic Representative Jamaal Bowman’s re-election in New York’s 16th Congressional District. The attack ad alleged that Bowman spent his political tenure “pushing dangerous conspiracy theories.”