Crypto PAC Doubles Down on Michigan Primary Ad Spending

A political action committee backed by cryptocurrency companies has increased its spending in Michigan's 13th Congressional District ahead of the state's Republican primary. Protect Progress PAC, funded largely by Ripple Labs and Coinbase, has spent over $2 million on media to influence the contest.

The latest FEC filings show the committee ramped up spending in support of U.S. Representative Shri Thanedar while also funding opposition to his Democratic challenger, Donavan McKinney.

Thanedar's legislative record includes support for crypto-related bills such as the GENIUS Act and the CLARITY Act. Protect Progress is an affiliate of Fairshake, a major outside spender in U.S. elections tied to crypto industry policy goals.