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Cryptocurrency firms invest $78 million in political action committee Fairshake to channel support for cryptocurrencies

Cryptocurrency companies have significantly increased their donations to US politicians. Companies such as Coinbase, Circle, and a16z have invested $78 million in Fairshake, a federal super PAC that can receive unlimited funds from corporations and individuals for elections, with the goal of guiding "cryptocurrency-friendly leadership." Coinbase Chief Policy Officer Faryar Shirzad said, "We will do everything we can to depoliticize cryptocurrency." "Our lobbying, grassroots work, and now Fairshake will create space for the public to debate its benefits, rather than our industry being used as a political football by those who do not understand the social benefits of this technology."

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