Ron Conway, a prominent Democratic megadonor and venture capitalist, has made headlines after cutting ties with a group of crypto super PACs following their decision to spend $12 million in an attempt to unseat Democratic Senator Sherrod Brown. Conway, who has been a vocal advocate for crypto-friendly policies in Congress, was reportedly unaware of this decision, which he believes could hinder efforts to push for favorable crypto regulations.
In an email to PAC members, including Coinbase CEO Brian Armstrong and Ripple CEO Brad Garlinghouse, Conway expressed his disappointment, calling the decision a “slap in the face” to Senate Majority Leader Chuck Schumer and himself. He highlighted his years of personal relationships in supporting the crypto movement and criticized the lack of communication regarding such a significant move.
This development underscores the growing tensions within the crypto industry as the US presidential election approaches. On a different note, a new movement called Crypto4Harris has emerged, consisting of industry leaders, policy experts, and crypto enthusiasts, aiming to support the Kamala Harris presidential campaign.
As the industry continues to evolve, it is clear that the intersection of politics and cryptocurrency will play a significant role in shaping the future of regulations and policies in the United States.
