Crypto PACs shift $1.5M after primary loss

• Fairshake affiliates spent more than $1.5 million on four US races after a supported candidate lost in Michigan.
• The spending targets races in Florida, Alaska and Wyoming ahead of August 18 primaries.
• The groups are backing candidates who support crypto legislation, including the CLARITY Act.

Fairshake affiliates spent more than $1.5 million on four US races after a supported candidate lost in Michigan.

Defend American Jobs and Protect Progress funded advertising for candidates in Florida, Alaska and Wyoming.

Protect Progress spent more than $2 million supporting Michigan Representative Shri Thanedar, who lost his primary to Donavan McKinney.

Defend American Jobs spent more than $500,000 each supporting Nick Begich, Sydney Gruters and Harriet Hageman.

Protect Progress also reported spending more than $50,000 supporting Florida Representative Lois Frankel’s re-election campaign.

Frankel, Begich and Hageman had voted for the GENIUS Act and CLARITY Act during their congressional terms.

Fairshake reported more than $170 million in spending during the 2024 election cycle as crypto groups seek influence over US digital asset policy.