Sen. Bernie Sanders (I-VT) criticized venture capital firm Andreesen Horowitz on Wednesday for reportedly pouring massive funds into politicians in the ongoing election cycle.
Sanders Laments ‘Broken’ Campaign Finance
Sanders took to X to express his concerns about the influence of big money in politics.
He specifically called out Andreesen Horowitz, a Silicon Valley firm with over $100 billion in assets, for spending more than $115 million in the midterm election efforts, according to a New York Times report.
Sanders said Andreessen Horowitz was trying to “buy politicians” who oppose regulating artificial intelligence and the cryptocurrency industry, deeming it a sign of a “broken” campaign finance system.
“End Citizens United, ban Super PACs & get Big Money out of politics-NOW,” the independent lawmaker said.
Andreessen Horowitz didn’t immediately return Benzinga’s request for comment.
This isn’t the first time Sanders has voiced his concerns about the intersection of politics and finance. Last month, he slammed the Trump family’s profiteering from cryptocurrency deals, calling it an “unprecedented kleptocracy”.
Crypto, AI Allocations Reportedly Surge
The $115 million was largely directed toward three main areas: $50 million for AI, $47.5 million for cryptocurrency, and $17.7 million supporting Republican leadership, according to the report.
The report also states that Andreessen Horowitz funneled $47.5 million into Fairshake, a cryptocurrency-focused super PAC, since November 2024.
Fairshake emerged as one of the most influential PACs in 2024, spending over $195 million to support pro-cryptocurrency candidates for Congress. It poured more than $10 million into defeating former lawmaker Katie Porter’s bid for the California Senate, according to Open Secrets.
Additionally, the report suggested that Andreessen Horowitz and its co-founders donated $12 million to MAGA Inc., President Donald Trump’s super PAC, including $6 million in March.
Photo Courtesy: lev radin on Shutterstock.com
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