Crypto PAC notches primary wins, but loses $2M Florida race
A Fairshake spokesperson said that the PAC was “just getting started“ on its expenditures as part of efforts to fill US Congress with lawmakers friendly to the crypto industry.
The cryptocurrency-aligned political action committee, Fairshake, achieved primary victories on Tuesday, despite losing a $2 million Florida race. Four out of five candidates funded by the PAC won their respective primaries or advanced in the election. Fairshake, which holds a $193 million war chest, invested more than $130 million in pro-crypto candidates during the 2024 election cycle.
Their efforts spanned Alaska, Florida, and Wyoming, with support for Republican Nick Begich in Alaska, Republican Nick Begich in Alaska, Republican candidate Sydney Gruters in Florida's 16th congressional district, and Representative Harriet Hageman for the US Senate in Wyoming. Despite the hefty investment, David Gruters and Hageman won their primaries, while Florida's Democratic candidate Oliver Gilbert emerged victorious in the 24th congressional district primary, despite facing more than $2 million in negative ads backed by Protect Progress.
Gilbert attributed the success of the ads to "Donald Trump's tech billionaire buddies" behind the "crypto con artists trying to buy a Democratic primary."
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