Following primary loss, crypto PACs invest $1.5M in 3 US state races
The Defend American Jobs and Protect Progress PACs reported spending more than $1.5 million on media for four House and Senate races ahead of Aug. 18 primary elections.
Two crypto PACs, Defend American Jobs and Protect Progress, have invested over $1.5 million in media advertisements for four House and Senate races in Florida, Alaska, and Wyoming following a primary loss in Michigan. These PACs are affiliated with the cryptocurrency-backed political action committee Fairshake. The spending includes over $500,000 in Alaska for Representative Nick Begich's re-election and about the same amount in Florida for Republican candidate Sydney Gruters in the 16th district.
Additionally, $50,000 was spent on re-electing Democratic candidate Lois Frankel in Florida's 23rd district. These expenditures come after a primary loss for Protect Progress-supported candidate Shri Thanedar in Michigan's 13th Congressional District. The CLARITY Act, supported by these candidates, is a crypto market structure bill.
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