Fairshake PAC’s $20M backing pays off in 3 US state primaries

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Source: Jasmine Clark Fairshake and its affiliates, backed by the crypto industry, are expected to spend millions of dollars in 2026 to “oppose anti-crypto politicians and support pro-crypto leaders,” according to a spokesperson in January. The company reported holding a $193 million war chest, far surpassing its 2024 expenditures of $130 million on media and ads to support congressional candidates. Related: Crypto PACs spend $7.2M to support candidates in 5 US states ahead of elections Despite the multimillion-dollar expenditures, the crypto-backed PAC hasn’t always been successful in swaying enough voters before a key election or primary. Fairshake reportedly spent $8 million opposing Illinois Lieutenant Governor Juliana Stratton in her US Senate primary, but she beat other candidates with more than 40% of the vote. Protect Progress has ramped up spending on supportive media for Democratic candidate Christian Menefee, running to unseat incumbent Al Green in Texas’ 18th Congressional District. Representative Al Green addressing the House Financial Services Committee in March. Source: Al Green According to FEC filings as of Tuesday, the PAC spent more than $4.1 million to support Menefee. It also reported spending more than $2.8 million on media to oppose Green, who has expressed anti-crypto views and voting records against the payment stablecoin bill GENIUS Act and digital asset market structure bill, the CLARITY Act. Protect Progress reportedly spent more than $1.5 million opposing Green ahead of a March primary against Menefee, but neither candidate secured a majority of the vote, triggering next Tuesday's runoff. Magazine: 5 tech predictions the mainstream media got horribly wrong More on the subject

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