Pro-Cryptocurrency PAC Wins Primaries but Loses $2M Race in Florida
A pro-cryptocurrency political action committee (PAC), Fairshake, achieved mixed results in recent U.S. primary elections, spending millions to influence races ahead of the 2026 midterms.
Fairshake's affiliated PACs, Protect Progress and Defend American Jobs, supported candidates in Alaska, Florida, and Wyoming, spending approximately $3.6 million. Four out of five candidates backed by their ads won their primaries or advanced. These included Democrat Lois Frankel in Florida, Republican Nick Begich in Alaska, Republican Sydney Gruters in Florida, and Representative Harriet Hageman in Wyoming's Senate race.
However, a high-profile $2 million negative ad campaign by Protect Progress failed to defeat Democrat Oliver Gilbert in Florida's 24th District. Gilbert won despite the ads, which he attributed to "Trump's techie-billionaire friends" and "crypto-scammers trying to buy a Democratic primary." A PAC representative defended the ads' factual accuracy.
Fairshake, with a reported $193 million war chest, has spent over $130 million in the 2024 cycle supporting pro-crypto candidates and opposing critics. A spokesperson stated the PAC is "just getting started" to build the largest pro-crypto Congress in history.
The outcomes could impact future crypto legislation, such as the pending CLARITY Act, as the 2026 elections may shift congressional control and determine which parties advance or block industry-related bills.
cryptonews.ru2 giorni fa 22:12
