Ron Conway, a prominent Democratic donor and tech billionaire, has severed ties with a network of crypto super PACs after they pledged $12 million to defeat Sen. Sherrod Brown (D-OH) without his prior knowledge.
The move, Conway argues, jeopardizes ongoing efforts to pass crypto-friendly legislation in Congress, a mission he's been actively supporting through his connections with key Democratic lawmakers, Politico reported Monday.
Conway, who contributed $500,000 to one of the PACs in December, expressed his outrage in an email to other influential figures in the crypto industry and PAC members, including Coinbase CEO Brian Armstrong and Ripple CEO Brad Garlinghouse.
In the email, Conway reportedly criticized the decision as "short-sighted and stupid," particularly at a time when Senate Majority Leader Chuck Schumer is working to push a crypto regulation bill through the Senate.
He further chastised the group for not informing him of the decision despite his active role in advocating for the industry's interests on Capitol Hill.
“Not one person bothered to give me a heads up that you were doing this,” Conway reportedly wrote to network members, dubbed Fairshake, which includes Armstrong, Garlinghouse, and Andreessen Horowitz founders Marc Andreessen and Ben Horowitz.
“I'm the one using my 25-plus-year-old personal relationships to help this movement the most significantly, and not one person bothered to inform me,” Conway reportedly said. “Sadly, I’m even a donor to Fairshake.”
Conway's decision to distance himself from the PACs comes as growing tensions within the crypto industry ratchet up ahead of the U.S. presidential election in November.
A divide between more moderate industry players and those aligned with conservative figures like Donald Trump has invigorated those from both sides of the political aisle while distancing others.
Neither Conway nor the Fairshake network, which led the controversial pledge, have commented publicly on the fallout. Fairshake did not immediately return a request for comment.