Crypto venture firm a16z founders donate $5M to Trump PAC
Founders of crypto venture capital firm Andreessen Horowitz (a16z), Marc Andreessen and Ben Horowitz, have donated $5 million to support Donald Trump’s re-election campaign.
According to filings with the U.S. Federal Election Commission, the two contributed $2.5 million each to the Right For America super PAC, which backs Trump.
The donations reflect the founders' support for Trump's policies, which they view as favorable to the crypto industry and tech startups.
This stance was highlighted in an Oct. 16 Bloomberg report, which referred to the policies as a “little tech agenda.”
Besides these donations, Andreessen gave an additional $844,600 — the maximum allowed — directly to Trump’s campaign and the Republican Party.
Earlier in October, Horowitz announced plans to donate to Vice President Kamala Harris’s campaign, although there is no record of this contribution yet.
The venture capitalist admitted to not knowing Harris's stance on cryptocurrency, as she has rarely discussed the topic.
Chris Larsen, Ripple's co-founder, recently donated $1 million in XRP tokens to Future Forward, a super PAC supporting Harris.
This move was seen as surprising, considering the ongoing legal conflict between Ripple and the SEC, which began in 2020.
Right For America has reportedly raised $27.8 million, with $43.6 million in cash available for campaigning.
The PAC is focusing its efforts on swing states like Arizona, Georgia, and Pennsylvania.
Alongside a16z’s contributions, Republican billionaire Miriam Adelson donated $95 million to the Preserve America PAC, another pro-Trump organization.
Elon Musk has also pledged financial backing to similar PACs.
Political action committees (PACs) connected to the crypto industry have gained traction, seeking to support candidates favorable to digital asset regulation.
According to Public Citizen, 44% of corporate political contributions in 2024, totaling $274 million, have come from crypto supporters.
The Fairshake PAC and its affiliates have raised over $200 million, further demonstrating the growing influence of the crypto sector on U.S. politics.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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