Crypto Super PACs win big backing candidates in 3 US state primaries

Turner Wright7 hours agoCrypto Super PACs win big backing candidates in 3 US state primariesAfter backing two losing candidates in Arizona primaries on July 30, the crypto-backed Fairshake PAC and its affiliates could claim up to four new victories in congressional races.769 Total views2 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTCOINTELEGRAPH IN YOUR SOCIAL FEEDFollow ourSubscribe onNews outlets have already called three primary races in Missouri and Michigan, potentially influenced by funds from the Fairshake Super political action committee (PAC) or its affiliates, with a fourth in Washington being also a possible victory.

As of Aug. 7, media outlets reported that Democrat Wesley Bell had defeated incumbent Cori Bush in the party primary for Missouri’s 1st Congressional District, Bob Onder had won the Republican nomination for Missouri’s 3rd, and Shri Thanedar had won the Democratic primary in Michigan’s 13th. At the time of publication, officials were still tabulating votes to determine the winner of the Democratic primary in Washington’s 6th Congressional District.

Fairshake and its affiliates, the Defend American Jobs PAC and the Protect Progress PAC, poured roughly $4 million combined into the four primary races in an attempt to support pro-crypto candidates for the United States House of Representatives or oppose ones who had expressed anti-crypto views. $1.4 million went into a media buy to oppose Bush, $250,000 to support Onder and $1 million to support Thanedar.

“Cori Bush has now become the latest anti-crypto, Elizabeth Warren-endorsed lawmaker to lose their seat in Congress,” said Fairshake spokesperson Josh Vlasto. “The crypto and blockchain community will continue to support candidates who believe in innovation and job creation.”

Emily Randall, the Democrat backed by a $1.5-million Protect Progress media buy in Washington’s 6th Congressional District, was leading in the primary race at the time of publication, with roughly 62% of votes counted. Should she be victorious, she could face Republican Drew MacEwen in the November general election.Washington 6th Congressional District Primary Election Results. Source: The New York Times

Hilary Franz, a Democrat trailing against MacEwan and Randall at the time of publication, called out support from Super PACs on X the night of the primary race. Her campaign manager, Eve Zhurbinskiy, suggested in July that Protect Progress was a “MAGA-funded Super PAC” hoping “to buy members of Congress” by influencing elections with money.

“Out-of-state Super PACs spent over $2.4 million to buy this seat,” said Franz on Aug. 6. “In the face of this unprecedented influx of dark money, we knew we faced an uphill climb — but thanks to our volunteers and supporters, this race is too close to call.”Fairshake losses in Arizona

The Michigan, Missouri and Washington Aug. 6 races followed primaries in Arizona, where Republican and Democratic candidates backed by Fairshake or its affiliates lost on July 30. Defend American Jobs and Protect Progress invested $1 million into media buys to support Republican Blake Masters and Democrat Andrei Cherny in House primaries, but both lost to opponents within their respective parties.

Before the primary, Protect Progress used roughly $1.3 million to support Democrat Yassamin Ansari over her opponent Raquel Terán in Arizona’s 3rd Congressional District. At the time of publication, the race was too close to call and will likely go to a recount. Ansari led by less than 100 votes.

Related:Vitalik Buterin warns of politicians claiming to be ‘pro-crypto’

Crypto interest groups have already put their money behind major party candidates running to be US president in 2024, a race including Democratic nominee and Vice President Kamala Harris and Republican Donald Trump. Some industry leaders, including the Winklevoss twins, have pledged to vote for Trump, but Harris has the support of many who say the presidential candidate has an opportunity to distance herself from crypto policy under the Biden administration.

Magazine:Crypto voters are already disrupting the 2024 election — and it’s set to continue# Politics# Funding# United States# Elections# RegulationAdd reaction