Crypto Lobby Pours $2M into Michigan House Race with Crypto-Friendly Rep

A political action committee (PAC) backed by cryptocurrency companies Ripple Labs and Coinbase has spent an additional $1 million on ads supporting Michigan Representative Shri Thanedar in the state's 13th Congressional District primary. This brings the total PAC spending to over $2 million, with more than $884,240 going towards supporting Thanedar and over $150,000 opposing his Democratic challenger, Donavan McKinney.

Thanedar has a history of supporting crypto-friendly legislation, voting in favor of the stablecoin-focused $GENIUS Act and cosponsoring the Promoting Innovation in Blockchain Development Act. McKinney has accused Thanedar of being paid back by the 'crypto lobby' for helping Trump make over $1 billion since taking office.

The PAC, Protect Progress, is an affiliate of Fairshake PAC, which spent more than $170 million in the 2024 US election cycle and has already poured millions into races in Texas, Illinois, and other states. The Michigan primary is scheduled for Tuesday, with primaries also upcoming in Washington and Alabama.