Why are crypto-backed PACs spending money in New York, Maryland and Utah primaries?

Crypto-backed PACs are spending money to support candidates they view as favourable to digital asset policies. The groups reported more than US$8 million in spending across primary elections in New York, Maryland and Utah.

What role does Fairshake play in these elections?

Fairshake is a cryptocurrency-backed political action committee that supports candidates through affiliated groups including Protect Progress and Defend American Jobs. Its affiliates have spent millions of dollars on advertising and campaign activities during recent primary elections.

Why have some Maryland candidates criticised crypto PAC spending?

Maryland candidates Quincy Bareebe, Harry Dunn and Rushern Baker questioned the influence of outside political spending in their primary race. They specifically cited nearly US$8 million in spending from crypto-backed groups and other organisations.

Which elections could attract crypto PAC spending next?

Political observers expect crypto-backed PACs to focus on upcoming primary elections in Colorado and Arizona. During the 2024 election cycle, Fairshake and its affiliates spent more than US$10 million in Arizona and US$2.1 million in Colorado races.

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Crypto PACs spend $8M on primaries

Q: How much did Protect Progress spend in the Maryland and New York races?

Protect Progress reported spending more than US$5.5 million supporting Adrian Boafo in Maryland's 5th congressional district and more than US$1.4 million supporting Ritchie Torres in New York's 15th congressional district. The PAC is affiliated with Fairshake.

Written by Brie CarterPublished Jun 23, 2026, 2:31 AM

Crypto-backed political action committees spent more than US$8 million supporting candidates in primary elections across New York, Maryland and Utah.
Fairshake affiliates directed most spending toward congressional races in Maryland and New York ahead of Tuesday's voting.
The outcome could influence the composition of the US Congress and future cryptocurrency policy debates.

Crypto-backed political action committees reported spending more than US$8 million on media and campaign support for candidates contesting congressional primary elections in New York, Maryland and Utah.

The spending comes as cryptocurrency industry groups continue expanding their political influence ahead of elections that could shape the makeup of Congress in 2027.

“We are calling on Governor Moore, Senator Alsobrooks, and Congressman Hoyer to answer directly: Do you support nearly $8 million in outside spending from crypto billionaires and AIPAC in a Maryland Democratic primary?” said Democratic candidates Quincy Bareebe, Harry Dunn and Rushern Baker in a joint statement.

Protect Progress, a Fairshake affiliate supporting Democratic candidates, reported spending more than US$5.5 million on behalf of Adrian Boafo in Maryland's 5th congressional district and more than US$1.4 million supporting Ritchie Torres in New York's 15th district.

Fairshake affiliates also spent more than US$400,000 supporting Republican Blake Moore in Utah's 2nd congressional district, while Following the disclosures no election results had been announced.

The spending follows a separate Alabama primary runoff in which Fairshake reportedly spent more than US$12 million supporting Republican Barry Moore, who won the contest.

Political observers expect crypto-backed groups to shift attention toward upcoming primary elections in Colorado and Arizona, where similar spending campaigns were conducted during the 2024 election cycle.