Crypto PACs | Crypto

An affiliate of a political action committee backed by crypto companies ramped up spending on ads in California ahead of Tuesday’s primaries, but still has millions of dollars at stake in Maryland later this month. While residents of California, Iowa, Montana, New Jersey, New Mexico and South Dakota are voting today in Democratic and Republican Congressional primaries, the cryptocurrency industry is more focused on the Maryland primaries later this month. According to filings with the US Federal Election Commission (FEC) as of Tuesday, the Coinbase- and Ripple-backed political action committee (PAC) Fairshake affiliate Protect Progress spent about $3 million combined to support Democratic candidates in House races across California and New Jersey. Another affiliate, Defend American Jobs, spent more than $411,000 to support Republican Senator Mike Rounds’ reelection bid in South Dakota. In addition to its activities in California, Protect Progress appeared to be prepared for significant spending in Maryland, w...

Two affiliates of the crypto-backed PAC Fairshake reported media buys for political candidates in Georgia, Alabama, Nebraska, Kentucky and Texas this week. Political action committees (PACs) affiliated with the cryptocurrency company-backed Fairshake reported spending millions of dollars to support candidates in five races, with less than six months until US voters decide on their representatives in Congress. According to filings with the Federal Election Commission this week, the Protect Progress PAC reported about a combined $1.6 million in expenditures for Jasmine Clark and Christian Menefee, Democrats running to represent Georgia’s 13th Congressional district and Texas’ 18th district, respectively.  The reported media buys came before Clark will face a May 19 Democratic primary and Menefee a May 26 runoff against Representative Al Green, who is running for a 12th term in office. Protect Progress claimed that Green was “actively hostile towards a growing Texas crypto community,” pledging to spend $1.5 mill...

Crypto super PACs are getting millions of dollars in contributions to spend supporting candidates who will advance their policies in Washington. Political action committees (PACs) representing the interests of the crypto industry have already secured millions of dollars in funding as the US heads toward its midterm elections. Super PACs are the uber-rich, no-limits, non-disclosure counterparts to crypto PACs. Last year, the industry spent at least $245 million in campaign contributions alone. The main super PAC funded by the cryptocurrency industry, Fairshake, raised some $133 million in 2025, bringing its total cash on hand up to over $190 million. Venture capital firm a16z contributed an initial $24 million, while Coinbase and Ripple each donated $25 million. Read more