Founders of Crypto VC Giant a16z Donate $5 Million to Trump Super PAC

According to documents filed with the U.S. Federal Election Commission, Marc Andreessen and Ben Horowitz each gave $2.5 million to a pro-Trump super PAC called Right For America.

Their support for Trump is based on his policies being seen as beneficial to the crypto industry and startups, which they call the “small tech agenda,” according to an Oct. 16 Bloomberg report.

Andreessen also gave an additional $844,600, the federal donation limit, to the Trump campaign and the Republican Party.

Donations coming in

Earlier this month, Horowitz made a surprise announcement that he would also donate to Vice President Kamala Harris’ campaign, but there’s still no record. The venture capitalist also doesn’t know about his crypto policies, as he has said very little about the industry.

In a somewhat odd move, Ripple co-founder and chairman Chris Larsen recently contributed $1 million in XRP tokens to Future Forward, a super PAC supporting Harris’ presidential campaign, according to CNBC. The Democrat-controlled SEC sued the company in 2020 and has dragged out the legal battle for the past four years.

The Right For America super PAC has raised $27.8 million and had $43.6 million in cash on hand in the final weeks of the campaign, Bloomberg reported. He is focusing most of his spending on the swing states of Arizona, Georgia and Pennsylvania.

In July, Horowitz said, “I’m going to have a lot of friends who are probably mad at me for saying something nice about President Trump” before adding that he was the right choice for “low tech.”

Additionally, Republican billionaire Miriam Adelson has shelled out $95 million to the pro-Donald Trump Preserve America PAC. Elon Musk has also pledged to financially support pro-Trump super PACs.

According to Open Secrets, Republican candidates lead their Democratic counterparts in terms of PAC donations received in 2024.

Popularity of Crypto PAC

Crypto-focused super PACs have become increasingly prominent in recent years as the digital asset industry seeks to influence policy and regulation.

These committees often support candidates who are seen as favorable to crypto interests, including those who advocate for less strict regulation of digital assets.

According to a Public Citizen report in August, digital asset corporations are the top corporate political spenders in 2024, with 44% of all such money contributed during this year’s elections, totaling $274 million. dollars so far, coming from crypto backers.

The crypto industry’s Fairshake PAC and its affiliates have raised more than $200 million, according to Open Secrets.

SPECIAL OFFER (Sponsored) Binance Free $600 (Exclusive to CryptoPotato): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

2024 LIMITED OFFER on BYDFi Exchange – Up to $2888 Welcome Reward, Use this link to register and open a 100 USDT-M position for free!