"Grow California," founded by Ripple co-founder Chris Larsen and Tim Draper, receives a $40 million donation pledge

According to Odaily, "Grow California," an initiative co-founded by Ripple co-founder Chris Larsen and Bitcoin supporter and venture capitalist Tim Draper, has disclosed that it has received donation commitments totaling approximately $40 million. These funds are intended for an independent expenditure committee and related nonprofit entities to combat California's wealth tax and union power. Chris Larsen is expected to contribute up to $30 million of his own funds over multiple election cycles. Industry observers have noted that crypto-backed political action committees (PACs) are preparing extensively for the 2026 U.S. midterm elections to expand the industry's influence. On Wednesday, Fairshake disclosed that its cash reserves have reached $193 million, funded by crypto institutions such as Ripple Labs, Andreessen Horowitz, and a certain exchange. (Cointelegraph)