Maryland | Crypto

Crypto-backed PACs disclosed spending more than $8 million on media to support candidates in three US states, as some Maryland Democrats have called on one candidate to reject “outside spending from crypto billionaires.” Political action committees (PACs) backed by cryptocurrency companies and aligned interest groups have bet more than $8 million to support candidates in Tuesday’s primaries across three US states, which could impact the makeup of the country’s Congress in 2027. As of Monday, the Protect Progress PAC, an affiliate of Fairshake that supports Democratic candidates, reported spending more than $516,000 on media for April McClain Delaney, running in Maryland’s 6th congressional district. However, much of the PAC’s attention has been focused on two races in Maryland and New York, where it reported combined expenditures of more than $5.5 million and $1.4 million, respectively, for primary races in the states’ 5th and 15th congressional districts, for Adrian Boafo and Ritchie Torres. Filings with the...

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...