Why did Fairshake support candidates in the recent US primaries?

Fairshake supported candidates it considers favourable to digital asset policies and cryptocurrency regulation. Fairshake spent part of approximately US$8 million in combined campaign support across races in New York, Maryland and Utah.

What role did Fairshake play in Adrian Boafo's election campaign?

Fairshake affiliate Protect Progress spent approximately US$5.5 million supporting Adrian Boafo's campaign in Maryland's 5th Congressional District. Boafo won the Democratic primary with about 32% of the vote despite criticism from opponents regarding cryptocurrency industry funding.

How much political funding does Fairshake have available?

Fairshake reported having approximately US$150 million in cash on hand as of June. The organisation said these funds could be used to support additional candidates in future federal and state elections.

Which candidates backed by Fairshake won their primaries?

Fairshake-backed candidates included Ritchie Torres in New York's 15th Congressional District, Blake Moore in Utah's 2nd Congressional District and Adrian Boafo in Maryland's 5th Congressional District. Each candidate won their respective primary election and advanced toward the November general election.

What elections could Fairshake target next?

Fairshake may focus on upcoming primary elections in Colorado and Arizona, which are scheduled for June 30 and July 21 respectively. As of the latest disclosures, Fairshake had not reported significant spending in those races.

Image for illustrative purposes only. Not a real photo.

Crypto-backed candidates win key US primaries

Written by Brie CarterPublished Jun 25, 2026, 1:26 AM

Candidates supported by cryptocurrency-backed political action committees won primary races in New York, Maryland and Utah.
Fairshake and affiliated groups spent roughly US$8 million supporting candidates viewed as favourable to digital asset policies.
The victories strengthen the presence of crypto-aligned candidates ahead of the November general election.

Candidates backed by cryptocurrency industry political action committees secured victories in primary elections across New York, Maryland and Utah, following approximately US$8 million in campaign spending by Fairshake and affiliated groups.

The spending supported candidates viewed as favourable to digital asset policy initiatives, including Democrat Ritchie Torres in New York, Republican Blake Moore in Utah and Democrat Adrian Boafo in Maryland.

“We went big and we went early,” said Fairshake spokesperson Geoff Vetter.

Protect Progress, an affiliate of Fairshake, reported spending US$5.5 million in support of Boafo's campaign, while Fairshake said it held approximately US$150 million in cash available for future political activity as of June.

The primary results provide momentum for crypto-aligned candidates ahead of the November elections, and there was no direct market reaction following the outcomes.

Fairshake and its affiliates are primarily funded by cryptocurrency industry participants including Coinbase Global and Ripple Labs, with additional crypto-focused political spending coming from groups backed by firms such as Anchorage Digital and Chainlink Labs.

Attention is now expected to shift toward upcoming primary elections in Colorado and Arizona, where crypto-backed political organisations could again become active participants in congressional races.