Crypto Lobby Spends Millions on Michigan Congressional Race

A political action committee (PAC) affiliated with cryptocurrency companies Ripple Labs and Coinbase has poured millions into Michigan's 13th Congressional District primary race. The Protect Progress PAC spent over $2 million on ads supporting Representative Shri Thanedar, a Democrat, and opposing his challenger Donavan McKinney. In the latest filings, the PAC reported an additional $884,240 for ads backing Thanedar and more than $150,000 to oppose McKinney.

Thanedar has been a supporter of crypto-friendly legislation in Congress, voting in favor of the GENIUS Act and cosponsoring the Promoting Innovation in Blockchain Development Act. His challenger McKinney criticized the PAC's spending, saying 'the crypto lobby is paying my opponent back for helping Trump make over $1 billion since taking office.'

The Protect Progress PAC is an affiliate of the Fairshake PAC, which spent more than $170 million in the 2024 US election cycle. The group has also been active in other states, including Texas and Illinois, with millions poured into 2026 races. Public Citizen reported that crypto companies had used over $189 million in the 2026 election cycle, with Fairshake and its affiliates responsible for more than $82 million of that amount.