Ron Conway Withdraws from Cryptocurrency PAC Fairshake
Top Democratic donor Ron Conway is reportedly stepping away from the cryptocurrency super PAC Fairshake after the group pledged to use $12 million to remove Sen. Sherrod Brown (D-Ohio) from his seat without informing him.
In December, the tech venture capitalist donated $500,000 to Fairshake, which had raised approximately $203 million for the 2023-2024 period as of June.
Conway expressed his dissent regarding Fairshake’s decision to other donors in an email sent on Wednesday, stating that the pledge to oppose Brown would hinder efforts to secure crypto-friendly laws in Congress by the Democratic Party.
“$12M to Brown’s opponent at a time when Sen Schumer is doing his best to get a bill passed in the Senate in the lame duck,” Conway noted, describing the move as a “slap in the face” to both himself and Senate Majority Leader Chuck Schumer.
During the recent Crypto4Harris town hall meeting, Schumer mentioned his intention to pass crypto regulation legislation by the end of the year, aiming to balance innovation with sensible regulations.
Conway’s team did not immediately respond to inquiries from The Block.
In the meantime, the Democratic Party’s recently released platform did not address cryptocurrencies, whereas the Republican platform vowed to “end Democrats’ unlawful and unAmerican Crypto crackdown” and “defend the right to mine Bitcoin.”
Comments (0)