Coinbase, a16z and others pour more than $78 million into pro-crypto PAC for 2026 election
With one day to go until the U.S. general election, crypto companies have already poured tens of millions of dollars into the upcoming 2026 cycle. The pro-crypto and bipartisan super PAC Fairshake said Monday that the committee and its affiliates have raised $78 million for the 2026 midterm elections.
That $78 million breaks down to more than $30 million raised, plus another $48 million in new commitments from centralized crypto exchange Coinbase and Silicon Valley venture fund Andreessen Horowitz, among other companies.
Early Monday, a16z general partner Chris Dixon, who heads up the fund’s crypto book, published a note explaining why the company contributed another $23 million to Fairshake.
“Regardless of what happens in the 2024 elections, we’re committed to supporting policymakers, irrespective of party affiliation, who will work to establish a practical regulatory framework that protects consumers while allowing the industry to grow,” the letter read.
Dixon added that “supporting a PAC like Fairshake is just one crucial part of the strategy needed to achieve our larger policy goals” and that a16z would continue to meet with policymakers on both sides of the aisle to advocate for the industry.
All in, a16z has given $70 million to Fairshake as the VC looks to support the PAC’s larger mission of building a Congress comprised of pro-crypto legislators.
On Wednesday, Coinbase announced it would give another $25 million to Fairshake.
Coinbase, the largest U.S. crypto exchange, was sued by the Securities and Exchange Commission over claims that it engaged in unregistered sales of securities. It’s among Fairshake’s top contributors this cycle. The exchange has given more than $75 million to Fairshake and its affiliated PACs.
“We know we need to have pro-crypto legislation passed in this country,” Coinbase CEO Brian Armstrong said during the company’s third-quarter earnings call. Coinbase shares plummeted 15% after the company reported a miss on the top and bottom lines.
Ripple Labs is another major political donor this cycle that has given around $50 million to Fairshake. A spokesperson said the company committed $25 million both this year and last year and intends to remain a strong force in DC for years to come.
Fairshake told CNBC it’s raised around $170 million this cycle and disbursed approximately $135 million.
The majority of the group’s funds can be traced to Coinbase, Andreessen Horowitz and Ripple Labs. The remaining balance comes from a mix of companies and individual donors. Armstrong, for example, gave $1 million, while the Winklevoss twins put in $5 million.
Fairshake was launched last year by a consortium of crypto firms and is one of the top-spending PACs in 2024, even against oil companies and banks, which have historically been big political contributors. Nearly half of all the corporate money flowing into the election has come from the crypto industry, according to a report from the nonprofit watchdog group Public Citizen.
Fairshake’s spending, which has targeted House and Senate races in the 2024 cycle, is effective. Public Citizen’s report found that of the 42 primary races that attracted money from crypto-backed super PACs, 36 were won by the candidate supported by the crypto industry.
Fairshake’s corporate and individual donors want crypto laws passed in the U.S.
Dixon and others say they’re looking for comprehensive market structure legislation for digital assets and a law to govern stablecoins, tokens pegged to the value of a real-world asset that are now virtually synonymous with U.S. dollar-pegged coins.
“Many industries come to DC asking to roll back rules, and we have come to DC asking to establish them,” Dixon wrote in his post Monday.
MINI has partnered with lifestyle brand, Deus Ex Machina, to develop this. It’s called the Skeg, and it’s a high-performance, racing-inspired electric concept car that’s sure to lighten the mood – by shedding fully 15% of its mass in the quest for speed.
One of a pair of exclusive, one-off concepts based on MINI’s John Cooper Works cars. The Deus Ex Machina Skeg celebrates MINI’s storied racing history with what the company calls, “a clean, minimal, and quiet rebellion,” that draws on materials, technologies, and philosophies from the world of surfing.
The electric MINI JCW Skeg is stripped to its essentials, with much of the steel and aluminum bits replaced with lightweight fiberglass to maximize acceleration while driving the minimalist aesthetic home. The end result weighs 15% less than the standard car – but makes the same stout 190 kW (258 hp) as the production car.
Surf’s up
The interior is stripped back to the barest essentials, reflecting BMW’s vision of a surf culture that prioritizes function over form. MINI claims the end result resembles a mobile surf shop, with fiberglass trays for wetsuits, specially shaped bins, neoprene seats, and other touches that “bring the surf culture into the interior.”
For their part, the BMW and MINI styling team seems pretty proud of its minimalistic electric endeavor. “In this extraordinary collaboration … every single detail has been crafted with artisanal precision and expertise,” says Holger Hampf, Head of MINI Design. “This has resulted in unique characters that are clearly perceived as belonging together through their distinctive design language and use of graphics.”
The concept retains the production version’s 54.2 kWh li-ion battery pack, up to 250 of WLTP range with the production aero kit, sprints from 0-100 km (62 mph) in just 5.9 seconds. With 15% less mass, though, that should jump to more than 255 miles, with 0-60 times dropping below 5.5 seconds.
I dig it – but I’d skip the surf bits and just appreciate the raw composite, minimalist interior look for what it is. Take a look at the image gallery, below, then let us know what you think of MINI’s Skeg concept in the comments.
MINI Skeg concept | gallery
SOURCE | IMAGES: BMW MINI.
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Environment
Volvo Penta teams up with e-power to equip Boels with next-gen Battery Energy Storage Systems (BESS)
Veteran marine and industrial power solutions company Volvo Penta has joined forces with energy solutions provider e-power to build battery energy storage systems (BESS). Volvo Penta’s battery systems for energy storage will power BESS units built by e-power that can be catered to a range of applications, most notably construction rental clients like Boels Rentals in Europe.
Volvo Penta is a provider of sustainable power solutions that currently serves land and sea applications under the Volvo Group umbrella. As more and more of the world goes all-electric, the global manufacturer has also adapted, sharing cultural values with Volvo Group to engineer new and innovative sustainable power solutions.
Nearly 100 years later, Volvo Penta remains an industry leader in marine propulsion systems and industrial engines. As more and more of the world goes all-electric, the Swedish manufacturer has also adapted, sharing cultural values with Volvo Group to engineer new and innovative sustainable power solutions.
For example, all Volvo Penta diesel engines now run on hydro-treated vegetable oil (HVO), reducing well-to-wheel emissions by up to 90% across the marine and industrial power industries. On the zero-emissions side, Volvo Penta has expressed its dedication to fossil-free power solutions, including battery electric components to serve heavy-duty applications such as terminal tractors, forklifts, drill rigs, and feed mixers, to name a few.
To leverage its battery electric value chain, Volvo Penta has also ventured into battery systems for energy storage (or BESS subsystems). These energy-dense, purpose-built BESS subsystems can provide portable, sustainable energy for all-electric charging and reduce grid dependency.
Volvo Penta to deploy battery systems for energy storage
Volvo Penta recently announced a strategic partnership with e-power, a Belgian power solutions provider. Together, Volvo Penta and e-power will develop a scalable Battery Energy Storage System (BESS) for Boels Rental.
The collaboration continues a long-standing partnership between all three companies. Boels – one of the largest construction rental companies is a long-time customer of e-power generators that utilize Volvo Penta engines. As the company shifts toward electrification and sustainability, it will again turn to those companies to deliver reliable performance.
Volvo Penta’s BESS subsystem comprises battery packs, a Battery Management System (BMS), DC/DC converters, and thermal management, combining to offer a compact, high-density, and transport-friendly solution optimized for rental operations. The company shared that this BESS design is integration-ready, enabling other OEMs like e-power to adapt and scale systems to customer-specific needs. Per e-power business support director, Jens Fets:
We’ve built our reputation on reliability and efficient power systems. Working again with Volvo Penta, this time on battery energy storage, allows us to meet the growing demand for energy in a silent, low-emissions, compact and mobile design—especially in rental applications.
The deployment of these new battery energy storage systems will help Boels cater to its customers’ growing demand for clean, silent, and mobile energy solutions in construction and other industrial applications.
Aside from being more quickly adaptable to customer needs, Volvo Penta says its BESS architecture marks an overall shift in rental power systems. This is welcome news for all who support a cleaner, more sustainable future across all industries.
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That didn’t take long! Just a few hours after Mercedes revealed the screen-heavy interior of its upcoming 2026 GLC EV, photos of the new crossover’s exterior – and that controversial grille! – leaked on Instagram and Reddit. We’ve got them here.
Two days ahead of the GLC EV’s officially schedule global debut, images that reportedly show the new 2026 Mercedes undisguised have leaked on Instagram and Reddit. They show the blocky new light-up grille on the nose of a very smooth, jellybean-like crossover shape that, despite Mercedes’ insistence that it’s moving away from the EQ series’ design language, looks an awful lot like an EQ Mercedes.
Check out the leaked images from kindleauto’s Instagram account, below, and see if you agree with that assessment.
If you need to see more before you feel comfortable commenting on the new SUV’s looks, there’s a few more angles over on the r/mercedes_benz subreddit.
Leaked exterior pictures of the upcoming GLC EV
byu/Quick_Coyote_7649 inmercedes_benz
As with everything else on the internet, take those unofficial images with a grain of salt and maybe wait until the GLC EV’s official reveal in a few days’ time before casting your final vote on the new look – but there’s very little reason to believe the new Mercedes will look terribly different from what you see here.
Will the new grille and tech-forward interior with its massive, 39″ screen and MB.OS software be enough to turn the tide for Mercedes-Benz, enabling it to finally gain some traction in the electric crossover market? That remains to be seen, but the recently updated Tesla Model Y and crisply-styled new BMW iX3 with its 500 miles of range will make it an uphill battle, for sure.
We got a sneak peek at the new GLC back in July, when Mercedes-Benz Group CEO, Ola Källenius said that, “We’re not just introducing a new model – we’re electrifying our top seller.” Back then, we learned that the new GLC EV would have a wheelbase 3.1″ longer than the current ICE-powered model, as well as more head- and leg-room for its occupants and an extra 4.5 cubic feet (for 61.4 total) of cargo space.
Källenius also promised an innovative new 800V electric architecture and the latest battery tech, which will enable the electric GLC to add around 260 km (~160 miles) of WLTP range in just ten minutes thanks to more than 300 kW of charging capability.
SOURCES | IMAGES: kindleauto; Quick_Coyote_7649.
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