On December 9th, Ripple Labs CEO Brad Garlinghouse recently discussed political action committees and their impact on the US Presidential Election. He said that if SEC Chairperson Gary Gensler did not actively regulate cryptocurrencies, Fairshake, a major political action committee funded by the cryptocurrency industry during the 2024 US election, may not exist. He pointed out that Fairshake is a joint response to the "crypto wars" because the SEC has significantly intensified 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 crypto industry that spawned the PAC. (crypto.news)