Ripple and Coinbase-Funded PAC Spends Over $2 Million to Support Michigan House Election
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A political action committee (PAC) funded by Ripple Labs and Coinbase has spent over $2 million to support state representative Shri Thanedar in Michigan's 13th district. The PAC's spending has doubled in the past week, with an increase of $884,000 in advertising supporting Thanedar and over $150,000 in advertising opposing McKinney. During his time as a U.S. Congressman, Thanedar voted in favor of the GENIUS Act, which focuses on stablecoins, and the CLARITY Act, which is currently under consideration in the Senate, and co-sponsored the proposal for the "Blockchain Development and Innovation Act" aimed at protecting developers.
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