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Crypto Industry PAC Secures Major Wins in 2024 Primaries

Fairshake PAC, backed by top crypto firms, influences over 20 congressional races without directly mentioning cryptocurrency.

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UNITED STATES - JUNE 22: Rep. Jamaal Bowman, D-N.Y., arrives to the U.S. Capitol before the House voted to send an articles of impeachment resolution against President Joe Biden to committees on Thursday, June 22, 2023. (Tom Williams/CQ-Roll Call, Inc via Getty Images)

Overview

  • Fairshake PAC has amassed $169 million, significantly impacting primary races across the U.S.
  • Key backers include Coinbase, Ripple, and Andreessen Horowitz, who have provided substantial donations.
  • The PAC's strategy focuses on broad political messaging rather than direct crypto advocacy.
  • Recent victories include high-profile races in California and New York, targeting both Democratic and Republican candidates.
  • Fairshake PAC plans to continue its influence in the general elections, with over $100 million still available for spending.