Tech Billionaire Ron Conway Vows To End Support of Crypto Lobby Due to ‘Hidden Agendas’: Report

A tech billionaire and Democratic donor is reportedly pulling his support for a network of crypto super political action committees (PACs), accusing the organizations of trying to topple an incumbent senator without informing him.

Ron Conway, a San Francisco-based angel investor, blasted the crypto super PAC Fairshake and its affiliated organizations for announcing they planned to spend $12 million to unseat Senator Sherrod Brown (D-Ohio), a vocal crypto critic, according to a new report from Politico.

Conway reportedly donated $500,000 to a crypto super PAC last year but now plans to stop supporting the network.

Politico reportedly viewed an email Conway sent to other affiliated donors last week.

Said Conway in the email,

“$12 million to [Sherrod] 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. You all know that is a ‘slap in the face’ to Sen. Schumer And a ‘slap in the face’ to me when you know I’m meeting him in SF tomorrow. How short-sighted and stupid can you possibly be?”

Conway wrote to allies of Fairshake, accusing them of failing to give him a heads-up about their political intentions.

“I’m the one using my 25+ year old personal relationships to help this movement the most significantly and not one person bothered to inform me. Sadly, I’m even a donor to Fairshake… 

Because of your selfish hidden agendas, it is time for us to separate. This is a wake-up call to myself that I have been working too long with people who [do] not share common values and that is unacceptable. … I will I [sic] no longer compromise myself by associating or helping…

There is an ‘elephant in the room. We have two factions: a moderate faction and a Donald Trump faction (Brian and Marc).”

Conway is presumably referring to Coinbase chief executive Brian Armstrong and Marc Andreessen, the co-founder of venture capital giant Andreessen Horowitz (a16z).

Coinbase and Andreessen Horowitz each donated $25 million to Fairshake earlier this year.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney