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.
Following their primary loss in Michigan, two cryptocurrency-backed political action committees (PACs) Funshake's Defend American Jobs and Protect Progress have allocated over $1.5 million to media advertisements supporting House and Senate candidates in Florida, Alaska, and Wyoming. The groups invested in candidates who voted in favor of the Digital Asset Market Clarity (CLARITY) Act while in Congress.
In Alaska's at-large congressional district, Defend American Jobs spent over $500,000 supporting Representative Nick Begich's re-election. In Florida's 16th district, the group backed Republican candidate Sydney Gruters with a similar investment. Representative Harriet Hageman, running for the vacant Wyoming Senate seat now held by Cynthia Lummis, also received funding from the PAC.
Both states will hold primaries on August 18. The reported spending comes after a primary defeat for a Protect Progress-supported candidate in Michigan's 13th Congressional District, where Democratic incumbent Shri Thanedar lost to State Representative Donavan McKinney after receiving over $2 million in media support from the Super PAC.
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