Coinbase, Ripple, and a16z have announced their plans to attend both the Republican National Convention (RNC) and the Democratic National Convention (DNC). The purpose of their attendance is to advocate for crypto-friendly policies and engage with influential figures within the party. The move highlights the increasing importance of the cryptocurrency industry in national politics.
According to Politico, the three companies will initially focus on garnering support from GOP power brokers at the RNC, given the Republican party’s growing affinity for cryptocurrencies. The report also quotes Representative Dusty Johnson (R-S.D.) acknowledging the rising interest in crypto among the American people.
By attending both conventions, Coinbase, Ripple, and a16z are demonstrating their commitment to non-partisan crypto policies. This aligns with their membership in the Fairshake super PAC, which aims to support U.S. candidates who advocate for cryptocurrencies, regardless of their party affiliation. The super PAC has already raised and spent a significant amount of money during the 2024 election cycle.
It remains unclear whether representatives from the companies have already arrived at the RNC, which concludes on July 18. The DNC is scheduled to take place from August 19 to August 24.
The decision to attend these conventions comes after the release of the parties’ respective platforms. The RNC, after a vote on July 9, included various crypto-related issues in its 2024 platform. This includes opposition to central bank digital currencies (CBDCs) and the Democratic party’s enforcement actions against the crypto sector. The RNC’s platform supports the protection of crypto mining and self-custody rights, and advocates for crypto transactions to be free from government surveillance and control. These policies align with former President Donald Trump’s stance on crypto.
On the other hand, the DNC’s draft platform, published on July 13, does not mention crypto at all. This omission has raised criticism of the Biden administration and the Democrats for their perceived strict treatment of the industry, despite the administration’s executive order in 2022 that aimed to foster responsible development of digital assets.
As of now, Coinbase, Ripple, and a16z have not responded to requests for comments regarding their participation in these conventions.