Ripple co-founder and Tim Draper establish crypto PAC “Grow California” to raise 40 million USD for midterm elections

Chris Larsen and Tim Draper established “Grow California” aiming for 40 million USD to fund political efforts against California’s wealth tax and union power. Larson plans to invest up to 30 million USD of his own capital.

Crypto PACs are preparing for the upcoming 2026 US midterm elections. Fairshake reported cash reserves of 193 million USD from various crypto institutions, indicating growing political influence by the cryptocurrency sector.