Senator Ruben Gallego (D-Ariz.) headed to Pennsylvania City Hall on Saturday to give Democrats advice on how to build larger tents and could support the 2028 presidential bid for 2028.
When one attendee asked Gallego about his fundraising event with Marc Andreessen, a close ally of billionaire cryptocurrency investor and Donald Trump, the freshman senator left a message to take this example of how Democrats should bring more people into the tent. (Fundraising event first reported Rolling stones)
“My general view on how to win an election is that you have to get a lot of votes, which means we will have to agree with people 100% of the time,” Gallego said, who said, “Marc Andreessen runs the largest venture capital firm in Arizona. We want to work as much as possible.”
Gallego said he disagrees with Anderson on every issue, pointing to the existence of the Consumer Financial Protection Agency, which accused the agency of “terrorizing financial institutions” after fined a payday loan company backed by his company.
But Gallego added: "My point is that what happened in the last election was that we became so pure and we remained so pure that we started kicking you out of the tent. By the end, there weren't enough people in the tent to win the election."
Gallego held a $5,000 fundraiser for his leadership PAC in March, and Andreessen was listed as a guest speaker. Political blogger Matt Yglesias is also planning to speak at an event held at the luxury resort of L'Auberge de Sedona.
The event took place when Gallego was appointed as the top Democrat on the Senate Banking Committee’s new “Digital Assets” subcommittee, which was to oversee cryptocurrencies.
Andreessen advised Trump in the case of cousin Crypto administration and his company Andreessen Horowitz outside the rally. The company lobbies a lot of encryption issues.
Andreessen of the company and co-founder Ben Horowitz donated more than $100 million in election cycles and donated more than $100 million to Pro-Crypto Super PAC, Fairshake and its subsidiary Conservation Progress. The latter’s super PAC cost $10 million, strengthening Gallego’s 2024 Senate campaign.
Andreessen Horowitz has been lobbying for legislation called the Genius Act, which would create a new, weak regulatory framework for so-called stablecoins, or peg it to actual currencies like the dollar (like the dollar). Experts say the legislation will effectively allow large tech companies such as Amazon, Yuan or X to create their own digital currencies. (Andreessen Horowitz has invested in X, formerly known as Twitter.)
The Genius Act has become even more controversial due to the final development of the Trump family's hugely corrupt cryptocurrency transactions. Reuters recently reported that a state-backed fund in the United Arab Emirates is investing $2 billion using stablecoins from the Trump family's cryptocurrency exchange.
Gallego is one of several crypto-friendly Democrats who helped stop the Genius Act from moving forward in the Senate last week. According to reports from the U.S. Outlook, there is a widespread expectation that these Democrats will eventually support legislation.