Crypto Billionaire Backs PAC to Punish GOP Critics of Solar Subsidies
Crypto billionaire and Democratic megadonor Chris Larsen is backing a PAC called Invest in Tomorrow Coalition, which is running ads 'from a MAGA perspective' to take out GOP critics of solar subsidies.
The group's aim is to 'punish' and 'take out' Republicans who oppose tax credits for solar and renewable energy firms. The coalition spent $2 million against Trump-backed Rep. Andy Ogles (Tenn.) in his primary race, $1 million against Rep. Ralph Norman (S.C.) in his Senate campaign, and roughly $640,000 in the GOP's Texas attorney general primary to attack Rep. Chip Roy (Texas).
Larsen has amassed a $15 billion fortune through Ripple Labs, which operates the cryptocurrency XRP. He has decried efforts to regulate the industry, railing against Sen. Elizabeth Warren (D., Mass.) as 'violently anti-crypto.'
The Invest in Tomorrow Coalition is led by Michael Brune, the former executive director of the Sierra Club who resigned amid an internal investigation into 'abuse and misconduct'.