"Grow California," a campaign led by Ripple co-founder Chris Larsen and venture capitalist Tim Draper, has announced $40 million in pledged donations. The funds will support efforts by an independent expenditure committee and related non-profits to challenge California's wealth tax and union power. Chris Larsen is expected to contribute up to $30 million over several election cycles. This move is part of a broader strategy by crypto industry PACs to influence the 2026 U.S. midterm elections. Additionally, Fairshake disclosed $193 million in reserves, backed by entities like Ripple Labs and Coinbase.