Here’s what happened in crypto today

Today in crypto, Ripple has contributed another $25 million to the Fairshake political action committee (PAC) in preparation for the US midterms, former Binance CEO Changpeng “CZ” Zhao has urged the crypto community to shift its focus away from memecoins and into building “real” blockchain applications, and memecoin launchpad Pump.fun has halted its livestream functionality after a number of recent broadcasts stirred criticism and concern.

Ripple pours more money into Fairshake PAC

Blockchain payment services firm Ripple has announced another $25 million contribution to the Fairshake political action committee, also known as a PAC.

Ripple CEO Brad Garlinghouse confirmed the contribution in a Nov. 26 social media post, where he said Fairshake intends to push “pro-crypto, pro-growth and pro-innovation candidates” in future elections. 

Source: Brad Garlinghouse

The payment firm donated $45 million to Fairshake during the 2024 US presidential election. It’s now setting its sights on the 2026 midterm elections. As Cointelegraph reported, the PAC has earmarked roughly $103 million for the midterms. 

With Republicans controlling the White House, Senate and House of Representatives, crypto proponents are hopeful that Congress will prioritize bills like the Financial Innovation and Technology for the 21st Century Act and stablecoin legislation.

Changpeng Zhao advocates for “real” blockchain apps over memecoins

On Nov. 26, Zhao shared his growing distaste for the memecoin ecosystem. In an X post, he said that the memecoins are getting “a little” weird as opposed to being funny during its nascent stages.

Source: Changpeng Zhao

While most of Zhao’s followers supported his request to refocus on building real decentralized applications (DApps) instead of trying to cash out on the hype, some accused his former crypto exchange, Binance, of listing memecoins with no obvious utility.

Binance’s crypto derivatives exchange, Binance Futures, continues to list memecoin trading pairs catering to public demand. However, the market price of Why (WHY) and Cheems (CHEEMS) — two new memecoins listed on the platform…

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