David Edwards
According to recent filings with the United States Federal Election Commission, Marc Andreessen and Ben Horowitz, co-founders of venture capital giant Andreessen Horowitz (a16z), each donated $2.5 million to a pro-Trump super PAC, Right For America. Their financial support for former President Donald Trump is reportedly driven by his policies, which they see as beneficial to the crypto industry and tech startups, referred to as the “little tech agenda” in an October 16 report from Bloomberg.
In addition to the super PAC contributions, Andreessen gave another $844,600 — the maximum allowable federal donation — to Trump’s campaign and the Republican Party.
Donations Flow to Crypto-Friendly Candidates
Earlier this month, Horowitz made headlines with a surprising announcement that he would also donate to Vice President Kamala Harris’ campaign, though no official records of the donation have surfaced.
Meanwhile, Chris Larsen, co-founder and chairman of Ripple, donated $1 million worth of XRP tokens to Future Forward, a super PAC supporting Harris, despite the ongoing legal battle between Ripple and the Securities and Exchange Commission (SEC), initiated in 2020.
Right For America has raised $27.8 million and reported $43.6 million in cash reserves for the final weeks of the campaign, focusing spending on key swing states like Arizona, Georgia, and Pennsylvania. Republican billionaire Miriam Adelson has also contributed $95 million to the pro-Trump Preserve America PAC, while Elon Musk has pledged his support to pro-Trump PACs as well.
Crypto PAC Influence Growing in 2024
Crypto-focused super PACs have gained significant traction in recent election cycles as the digital asset sector seeks to shape policy and regulation. These committees typically back candidates advocating for less stringent digital asset regulations. According to a Public Citizen report from August, the digital asset industry has become the top corporate political donor in 2024, with 44% of all corporate contributions — totaling $274 million — coming from crypto-related sources.
As the 2024 election approaches, Republican candidates continue to lead Democrats in total PAC donations, particularly from the crypto sector, according to data from Open Secrets.
