Ron Conway, a high-profile Democratic donor, has severed ties with the Fairshake PAC after the committee decided to support a Republican candidate in a key Senate race.
Conway's Withdrawal of Support
In an email to other donors, Conway, who had previously donated $500,000 to Fairshake, expressed his discontent after learning that the committee pledged $12 million to support Bernie Moreno, the Republican challenger to Democratic Ohio Senator Sherrod Brown. "Because of your selfish, hidden agendas, it is time for us to separate. I will no longer associate with or help the super PAC." - Conway. Additionally, Conway noted that the committee jeopardizes the efforts of Senate Majority Leader Chuck Schumer, who is working to advance pro-crypto legislation.
Internal Divisions and Strategic Concerns
In his email, Conway claimed there were two factions within the PAC: 'a moderate faction and a Donald Trump faction,' directly naming Armstrong and Andreessen as being in the latter camp. He added that despite Fairshake planning to support an equal number of Democrats and Republicans running for Congress, a majority of the Republicans the PAC is supporting are in must-win districts for Democrats if they have any chance of taking back the House. According to Conway, PAC did this after the Democrats handed it the FIT 21 Victory just a few months ago.
Major Donors of Fairshake
Despite Conway’s decision to withdraw support, Fairshake, one of the largest super PACs in the U.S., may not be significantly impacted. Major donors such as Coinbase, Ripple, and Andreessen Horowitz remain major contributors to the committee for the 2024 elections. According to data from Open Secrets, the three companies and their staff have donated about $136 million to Fairshake. This figure is about 84% of the nearly $162 million contributed to the committee as of June.
Fairshake PAC has not yet commented on Conway’s departure. It remains to be seen what impact his decision will have on the committee's future activities.
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