The post Top Democratic donor Ron Conway cuts ties with pro-crypto Fairshake PAC appeared on BitcoinEthereumNews.com.

Ron Conway, a high-profile Democratic donor, has cut associations with the Fairshake PAC, a political action committee (PAC) that supports pro-crypto policies. Conway made this decision after the PAC controversially backed a republican candidate in a key Senate race. PAC bypasses Conway on its unexpected political endorsement In an email to other donors, Conway, who had previously donated $500,000 to Fairshake, expressed his discontent after learning that PAC pledged $12 million to support Bernie Moreno, the Republican challenger to Democratic Ohio Senator Sherrod Brown. “Because of your selfish, hidden agendas, it is time for us to separate. I will no longer associate with or help the super PAC.” Conway Additionally, Conway noted that PAC jeopardizes the efforts of Senate Majority Leader Chuck Schumer, who is working to advance pro-crypto legislation. He said that $12 million to Brown’s opponent at a time when Senator Schumer is doing his best to get a bill passed in the Senate in the lame duck. Conway reveals internal divisions and strategic concerns In his email, Conway claimed there were two factions, “a moderate faction and a Donald Trump faction,” directly naming Armstrong and Andreessen as being in the latter camp. He added that despite Fairshake planning to support the same number of Democrats and Republicans running for Congress, a majority of the Republicans the PAC is supporting are in “must-win districts for Dems if they have any chance of taking back the House.” According to Conway, PAC did this after the Democrats handed it the FIT 21 Victory just a few months ago. He said this in reference to the Republican-led Financial Innovation and Technology for the 21st Century Act (FIT21), which passed the House with 71 Democrats voting in favor. Fairshake has bigger donors Despite Conway’s decision to withdraw support, Fairshake, one of the…

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Filed under: News - @ August 20, 2024 10:28 am