Cryptocurrency-backed PACs have spent over $8 million supporting candidates in Tuesday's primaries across Maryland, New York, and Utah. The spending aims to influence congressional races, with a focus on specific districts and candidates, drawing criticism over 'dark money' influence.
Fairshake, a crypto industry super PAC, spent over $12 million to help Barry Moore win an Alabama Senate Republican runoff. This win highlights the industry's success in primaries to secure pro-crypto lawmakers, yet their key legislative goal, the CLARITY Act, remains stalled in the Senate.
Cryptocurrency industry-backed PACs, including Fairshake, spent millions supporting candidates in recent primaries across California, New Jersey, and South Dakota. A new PAC, Defend Developers, also launched to champion crypto builders.
Crypto industry PACs, including Fairshake, are spending millions to influence US Congressional primaries. They aim to support pro-crypto candidates and oust "anti-crypto" lawmakers, with significant investments in California, New Jersey, South Dakota, and Maryland.
The Blockchain Leadership Fund, a crypto industry PAC, has endorsed 10 candidates for the 2026 US midterm elections, aiming to influence policy on digital assets. The PAC, funded by Chainlink Labs and Anchorage Digital, announced its picks for Senate and House races, including both Republican and Democratic candidates.
Crypto PAC Fairshake claimed victory after six favored candidates won primaries, backed by over $20 million in industry money. However, all five GOP winners also had Trump's endorsement, raising questions about crypto's actual influence versus the president's sway.
Crypto industry-aligned PACs win big in US state primaries, spending $20 million to support pro-crypto candidates.
Protect Progress PAC, backed by crypto interests, has spent over $4.2M to support Georgia state representative Jasmine Clark in her US House primary race. The PAC aims to elect pro-crypto candidates and oppose those against it, influencing key elections.
Two affiliates of the crypto-backed PAC Fairshake reported media buys for political candidates in Georgia, Alabama, Nebraska, Kentucky and Texas this week.
Days before an Indiana primary, the Defend American Jobs PAC reported spending about $514,000 on media in support of a Republican House member running for reelection in the state‘s 4th Congressional District.
The crypto-aligned Fellowship PAC, led by Tether's head of government affairs, spent over $3 million on advertising for US Senate and House races, with $1.75 million supporting Texas Attorney General Ken Paxton in his May 26 runoff against Senator John Cornyn. Additional spending included $350,000 each for Mike Collins in Georgia and Barry Moore in Alabama, and $250,000 and $350,000 for Blake Miguez and Julia Letlow in Louisiana. Meanwhile, prediction market Kalshi banned Texas candidate Ezekiel Enriquez for five years after he bet less than $100 on his own candidacy.
