Crypto-Backed PACs Pour $1.5M into US State Races

Crypto-aligned groups are continuing to use election cycles to reward or reinforce crypto-related legislative voting records, according to new Federal Election Commission (FEC) filings reviewed as of Thursday.

The latest disclosures show that two Fairshake-affiliated groups, Defend American Jobs and Protect Progress, spent more than $1.5 million on media related to federal contests in Florida, Alaska, and Wyoming, primarily supporting candidates who have voted in favor of the Digital Asset Market Clarity (CLARITY) Act and other related proposals.

The new spending comes after a primary loss in Michigan, where Protect Progress-supported activity appeared to backfire, with Democratic incumbent Shri Thanedar losing to State Representative Donavan McKinney. The group had previously reported spending over $2 million on media supporting Thanedar, highlighting that large independent political spending does not guarantee electoral success.

The filings also reveal how Fairshake-aligned groups weigh both formal voting records and documented position statements when deciding where money goes, an approach that can help explain variations in spending patterns across candidates and parties. The pattern of independent spending suggests crypto-aligned groups are preparing for a broader political push heading into the 2026 midterms.