According to news on December 9, Ripple Labs CEO Brad Garlinghouse recently discussed political action committees and their impact on the US presidential election. It said Fairshake, a major political action committee funded by the cryptocurrency industry during the 2024 U.S. election, may not exist if U.S. SEC Chairman Gary Gensler had not actively regulated cryptocurrencies. He noted that Fairshake was a concerted response to the “crypto wars” as the SEC significantly stepped up its regulatory crackdown during Gensler’s tenure. The agency has filed more than 120 lawsuits against cryptocurrency companies, including Ripple Labs, Uniswap, Terraform Labs, Coinbase, Binance and Kraken, for violating securities laws. Garlinghouse said the enforcement action created an unexpected unity within the cryptocurrency industry, which gave rise to the PAC. (crypto.news)