Ron Conway Cuts Ties with Crypto PACs Over Anti-Sen. Brown Pledge

Ron Conway, a well-known Democratic donor and tech billionaire, has distanced himself from a network of cryptocurrency super PACs after they pledged $12 million to defeat Senator Sherrod Brown (D-OH) without his prior consent.

The decision has sparked tension, particularly given Conway’s ongoing efforts to promote crypto-friendly legislation in Congress.

Conflict Over Strategy

Conway had contributed $500,000 to one of the PACs in December. However, he expressed his outrage in an email to industry leaders, including Coinbase CEO Brian Armstrong and Ripple CEO Brad Garlinghouse, labeling the move as “short-sighted and stupid.”

He was particularly critical of the lack of communication, noting that no one informed him of the decision, despite his active advocacy for the industry on Capitol Hill.

Impact on Legislative Efforts

Conway emphasized that the PAC’s actions could undermine current efforts to pass a crypto regulation bill, which Senate Majority Leader Chuck Schumer is pushing through the Senate.

His frustration was evident in his correspondence with members of the network, known as Fairshake, which includes key figures like Armstrong, Garlinghouse, and Andreessen Horowitz founders Marc Andreessen and Ben Horowitz.

Tensions in the Crypto Industry

The incident reflects growing divisions within the cryptocurrency industry, particularly as the U.S. presidential election approaches. A split between more moderate industry players and those aligned with conservative figures like Donald Trump has added to the tensions.

Neither Conway nor Fairshake has made any public comments on the matter, and Fairshake has not responded to requests for comment.