$1.5M Crypto PAC Spend Shifts Focus to US State Races Following Primary Loss

A pro-crypto PAC called Fairshake has invested $1.5 million in three US state races, following a primary loss for one of its supported candidates in Michigan.

The money will be spent on media to support Republican and Democratic candidates who have voted in favor of the Digital Asset Market Clarity (CLARITY) Act while serving in Congress.

In Alaska's at-large congressional district, Fairshake-affiliated Defend American Jobs has spent over $500,000 supporting Representative Nick Begich's re-election bid. The group has also allocated a similar amount for Republican candidate Sydney Gruters in Florida's 16th district and Representative Harriet Hageman running for the Wyoming Senate seat.

The reported expenditures follow a primary loss for a Protect Progress-supported candidate in Michigan's 13th Congressional District, where Democratic incumbent Shri Thanedar lost to State Representative Donavan McKinney after receiving over $2 million in support from Fairshake.