Key Democratic patron Ron Conway departs from top crypto super PAC Fairshake: report

Top Democratic donor Ron Conway is reportedly stepping away from major cryptocurrency super political action committee (PAC) Fairshake after the group pledged to use $12 million to remove Sen. Sherrod Brown (D-Ohio) from his seat without telling him. 

In December, the tech venture capitalist donated $500,000 to Fairshake, which had generated funds of around $203 million for the 2023-2024 period as of June.

Conway expressed his dissent to the Fairshake’s decision to other donors via email sent Wednesday, where he said that the pledge made by the group would work against efforts to secure crypto-friendly laws in Congress by the Democratic Party.

“$12M to Brown’s opponent at a time when Sen Schumer is doing his best to get a bill passed in the Senate in the lame duck,” Conway said in the email, as reported by Politico. Conway described the move as a “slap in the face” to him and Senate Majority Leader Chuck Schumer. 

Schumer, at last week’s Crypto4Harris town hall meeting, said that he intends to pass crypto regulation legislation by the end of this year, with an aim to balance innovation with common-sense regulations.

Conway's team did not immediately respond to The Block's request for comment.

Meanwhile, the Democratic Party’s recently released party platform did not mention cryptocurrencies, while the Republican platform pledged to “end Democrats' unlawful and unAmerican Crypto crackdown” and “defend the right to mine Bitcoin.”