加密貨幣超級政治行動委員會贏得 2024 年大選

簡而言之，Decrypt 的藝術、時尚和娛樂中心。那是 2022 年 12 月，FTX 剛剛崩潰，變成了價值 320 億美元的蒸氣雲

In late 2023, leaders of America's wealthiest crypto companies decided to band together and protect their young industry from extinction. Policy experts at these companies convinced their bosses that a crypto super PAC could be the path forward.

2023 年底，美國最富有的加密貨幣公司的領導者決定聯合起來，保護他們年輕的產業免於滅絕。這些公司的政策專家讓他們的老闆相信，加密貨幣超級政治行動委員會可能是前進的道路。

After vetting Fairshake, a newly created crypto super PAC, it was decided that the plan could work if everyone involved agreed on several fundamental questions.

在對新創建的加密貨幣超級政治行動委員會 Fairshake 進行審查後，我們決定，如果每個參與者都就幾個基本問題達成一致，該計劃就可以發揮作用。

If Ripple, Coinbase, and Andreessen Horowitz gifted Fairshake a massive war chest, would they all have the stomach to go after powerful incumbent lawmakers? Could they all agree on a bipartisan slate of candidates to ensure the durability of their coalition?

如果 Ripple、Coinbase 和 Andreessen Horowitz 向 Fairshake 提供巨額資金，他們是否都有勇氣追隨強大的現任立法者？他們能否就兩黨候選人名單達成一致，以確保其聯盟的持久性？

Coinbase CEO Brian Armstrong donated $1 million to Fairshake in September 2023. The next month, Marc Andreessen and Ben Horowitz each gave $2.5 million. In November, Coinbase donated $5 million. By Christmas, Andreessen and Horowitz gifted another $14 million; Coinbase, another $15.5 million.

Coinbase 執行長布萊恩·阿姆斯壯(Brian Armstrong) 於2023 年9 月向Fairshake 捐贈了100 萬美元。 250 萬美元。 11 月，Coinbase 捐贈了 500 萬美元。到了聖誕節，安德森和霍洛維茲又捐了 1,400 萬美元； Coinbase，另外 1550 萬美元。

Ripple matched both firms by throwing $20 million into the pot. By the start of 2024, Fairshake had amassed nearly $85 million, obliterating the previous record.

Ripple 向兩家公司投入了 2000 萬美元。截至 2024 年初，Fairshake 已籌集近 8,500 萬美元，打破了先前的記錄。

By the eve of 2024’s presidential election, Fairshake and its affiliate PACs would raise nearly $300 million.

到 2024 年總統選舉前夕，Fairshake 及其附屬 PAC 將籌集近 3 億美元。

Leaders of the crypto policy movement are emphatic that this sea change was primarily thanks to a grassroots campaign, instigated by Coinbase, to activate the so-called crypto voter and show lawmakers how many millions of Americans were willing to support—or oppose—candidates based on their crypto stances.

加密貨幣政策運動的領導人強調，這種巨大的變化主要歸功於Coinbase 發起的一場草根運動，目的是激活所謂的加密貨幣選民，並向立法者展示有多少數百萬美國人願意支持或反對基於加密貨幣的候選人。

Fairshake's spending history tells another story. In February, the super PAC deployed over $10 million in a successful bid to defeat Rep. Katie Porter (D-CA), a candidate for California's open U.S. Senate seat.

Fairshake 的消費歷史講述了另一個故事。今年 2 月，超級政治行動委員會投入了超過 1000 萬美元，成功擊敗了加州美國參議院公開席位候選人、眾議員凱蒂·波特 (Katie Porter)。

This initial flex of Fairshake’s financial muscle was significant for several reasons. For one, it was seismic in scale: this single spend on anti-Porter ads dwarfed the candidate’s own positive ad spend by a factor of 20:1.

Fairshake 最初的財務實力展現具有重要意義，原因有幾個。其一，其規模是巨大的：這一單筆反波特廣告支出使候選人自己的積極廣告支出相形見絀，達 20:1。

Secondly, Porter wasn’t even particularly anti-crypto; she rarely if ever spoke on the subject. She was, however, something of a protégé of Sen. Elizabeth Warren (D-MA), a staunch crypto critic. The association with Warren, apparently, was enough to trigger the crypto industry’s nuclear spending.

其次，波特甚至不是特別反對加密貨幣。她很少談論這個話題。然而，她在某種程度上是堅定的加密貨幣批評家參議員伊麗莎白沃倫 (D-MA) 的得意門生。顯然，與華倫的聯繫足以引發加密產業的核支出。

“Porter was not exactly crusading against crypto, and yet they unloaded on her,” Rick Claypool, a research director at Public Citizen, told Decrypt. “That struck fear into the hearts of candidates.”

Public Citizen 研究總監 Rick Claypool 告訴 Decrypt：“Porter 並不是真正反對加密貨幣，但他們卻向她發起了攻擊。” “這讓候選人心中感到恐懼。”

In the spring, a handful of key crypto-related votes came before Congress: a vote in the House on FIT21, a potential crypto market regulatory framework, and a vote in both chambers on the repeal of SAB 121, an SEC rule that discouraged banks from holding crypto.

今年春天，國會進行了一些與加密相關的關鍵投票：眾議院對FIT21（一個潛在的加密市場監管框架）進行了投票，以及參眾兩院對廢除SAB 121（一項令銀行望而卻步的SEC 規則）進行了投票持有加密貨幣。

While both bills would have had a tangible impact on crypto if signed into law, their consideration in May arguably served a more important purpose: acting as a litmus test for lawmakers regarding their stances on digital assets.

雖然這兩項法案如果簽署成為法律，都會對加密貨幣產生切實的影響，但它們在 5 月的考慮可以說有一個更重要的目的：作為立法者對數位資產立場的試金石。

Months prior, Fairshake had signaled its intention to spend heavily in the general election. Those tens of millions of dollars, crucially, had yet to be committed for or against any general election candidates when FIT21 and SAB 121 came before Congress.

幾個月前，費爾沙克曾表示打算在大選中投入大量資金。至關重要的是，當 FIT21 和 SAB 121 提交給國會時，這些數千萬美元尚未用於支持或反對任何大選候選人。

During those spring votes, Fairshake’s war chest hung in the air over Capitol Hill “like a corporate money Death Star,” Public Citizen's Claypool said.

公共公民的克萊普爾表示，在春季投票期間，費爾沙克的戰爭資金「就像一顆企業資金死星」懸在國會山上空。

The results were dramatic: 71 House Democrats, including Nancy Pelosi, broke with President Joe Biden to pass FIT21. Twelve Senate Democrats, including then-Senate Majority Leader Chuck Schumer, defied Biden to pass a repeal of SAB 121. (The president subsequently vetoed the resolution.)

結果是戲劇性的：包括南希·佩洛西在內的 71 名眾議院民主黨人與總統喬·拜登決裂，通過了 FIT21。包括當時的參議院多數黨領袖查克·舒默在內的 12 名參議院民主黨人不顧拜登的反對，通過了廢除 SAB 121 的法案。

Democrats facing battleground elections in 2024 demonstrated significant changes in tune. Rep. Elissa Slotkin (D-MI), for example, was running for a hotly contested U.S. Senate seat in Michigan at the time; she held an “F” rating on Coinbase’s “Stand With Crypto” watchdog site a month prior to the FIT21 and SAB 121 votes.

面臨 2024 年戰場選舉的民主黨人表現出了重大的基調變化。例如，密西根州民主黨眾議員埃麗莎·斯洛特金（Elissa Slotkin）當時正在競選密西根州競爭激烈的美國參議院席位。在 FIT21 和 SAB 121 投票前一個月，她在 Coinbase 的“Stand With Crypto”監管網站上獲得了“F”評級。

She then supported both initiatives in late May. In short order, her Stand With Crypto rating was upgraded to an “A.”

隨後，她在五月下旬支持了這兩項倡議。很快，她的“Stand With Crypto”評級就升級為“A”。

In September, Fairshake opted to throw millions of dollars behind Slotkin and against her opponent, a Republican who had vocally supported crypto for years. Slotkin ultimately won Michigan’s Senate race by a margin of less than 0.34%.

9 月，Fairshake 選擇投入數百萬美元支持 Slotkin，並對抗她的對手——多年來一直公開支持加密貨幣的共和黨人。斯洛特金最終以不到 0.34% 的優勢贏得了密西根州參議員競選。

Most crypto industry leaders involved in Fairshake’s operations see the conversion of politicians like Slotkin as proof of crypto’s salience among the American public.

大多數參與 Fairshake 營運的加密貨幣行業領導者都將斯洛特金等政客的轉變視為加密貨幣在美國公眾中的重要性的證明。

“I think once that became crystallized for Democrats, it made

「我認為一旦這對民主黨來說變得具體化，它就使得