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Crypto political committee receives $25 million donation from a16z amid Trump and Elon Musk's meeting

Source Fxstreet

Fairshake received another $25 million donation from venture capital firm a16z.
Donald Trump's pro-crypto stance continues as he allegedly sought counsel from Elon Musk.
President Joe Biden's campaign is allegedly reaching out to crypto industry players.

Andreessen Horowitz (a16z) made a new donation to the Fairshake Super PAC on Thursday following an alleged report that Donald Trump is seeking counsel on cryptocurrency guidelines from Tesla and Space X CEO Elon Musk.

a16z adds fresh donation to crypto PAC

Andreessen Horowitz (a16z) made a fresh $25 million contribution to the Fairshake Super political action committee (PAC) on Thursday, bringing its total donations to $47 million. Crypto expert and a16z's General Partner, Chris Dixon, revealed the latest donation.

This follows Ripple's $25 million donation to the Super PAC on Wednesday, making the company the committee's highest donor.

Read more: Ripple adds $25 million donation to political committee’s war chest

These donations aim to further Fairshake's mission to support pro-crypto candidates in the upcoming elections.

Meanwhile, a recent Bloomberg report claimed that former US President Donald Trump met with billionaire Elon Musk to seek counsel on crypto.

The report suggests that both billionaires are discussing crypto policies, following Trump's recent positive attitude towards Bitcoin and crypto. It also alleged that Trump's campaign is considering bringing Musk to speak on cryptocurrencies at a convention.

"Trump campaign officials have also talked about the possibility of inviting Musk to speak at the Republican convention, but are still far from making a final decision," Bloomberg wrote.

Also read: US Presidential candidate Donald Trump is open minded to cryptocurrency, supports right to self custody

However, Elon Musk responded to the claims made by the report concerning his alleged meeting with Trump in an X post, stating that he has never had a conversation with Trump about cryptocurrencies.

"Pretty sure I've never discussed crypto with Trump, although I am generally in favor of things that shift power from government to the people, which crypto can do," said Musk.

In response to Trump's pro-crypto moves, President Joe Biden's campaign has allegedly been reaching out to crypto industry players, sources told The Block.

The sources said his camp has begun to see the crypto industry's potential impact on the forthcoming elections.

"The engagement effort, which started about two weeks ago, comes as Biden's camp increasingly recognizes the impact crypto-related issues could have on a presidential race that is likely to be close," The Block wrote.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

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