Protect Progress, an affiliate of the cryptocurrency-backed Fairshake PAC, spent more than $1 million on media buys to support Democratic candidate James Walkinshaw. James Walkinshaw, a Democratic candidate seeking to replace the late Representative Gerry Connolly for Virginia’s 11th Congressional District, won a party primary after a cryptocurrency-backed political action committee (PAC) spent more than $1 million to support his race. On Saturday, Democrats in Virginia’s 11th district held a firehouse primary to decide on a possible replacement for Connolly after his death while in office. A special election to determine who will represent the district will be held on Sept. 9. Walkinshaw beat out other candidates to become the Democratic nominee for the House seat, and the cryptocurrency industry may have played a role in his success, given reports of media buys by the Protect Progress PAC. According to Federal Election Commission filings, the committee spent more than $1 million to support Walkinshaw in Jun...
The Protect Progress PAC spent more than $1 million to support James Walkinshaw in a primary for the congressional seat, in a race that could narrow Republicans’ House majority. Voters in the US state of Virginia’s 11th congressional district will choose a replacement for late Representative Gerry Connolly in a special election that could be influenced by money from the cryptocurrency industry. On Tuesday, Virginia residents who haven’t voted early head to the polls to decide whether to elect Democrat James Walkinshaw or Republican Stewart Whitson to replace Connolly following his death in May while serving in the US Congress. While neither candidate appeared to have taken a strong position on digital assets or blockchain for the campaign, a cryptocurrency-backed political action committee (PAC) could still influence the outcome. Read more