Crypto PAC Dumps $1M into Michigan House Race

A political action committee (PAC) backed by cryptocurrency companies Ripple Labs and Coinbase has spent $1 million on ads to support Michigan Representative Shri Thanedar in the state's 13th district. The Protect Progress PAC, an affiliate of Fairshake, has now spent over $2 million on media to support Thanedar and oppose his Democratic challenger Donavan McKinney.

The most recent filings with the Federal Election Commission (FEC) show that the PAC added $884,240 to its spending in the past week. This brings the total amount spent by Protect Progress to over $2 million. The money will be used for ads supporting Thanedar and opposing McKinney in next week's primary election.

Thanedar has a history of voting in favor of crypto-friendly legislation, including the GENIUS Act and the Digital Asset Market Clarity (CLARITY) Act. McKinney, on the other hand, has accused Thanedar of being beholden to the 'crypto lobby' due to his past votes.

Protect Progress is just one of several PACs affiliated with Fairshake that have spent millions on elections in various states, including Texas and Illinois. The group's spending in 2026 alone exceeds $82 million, according to a report by Public Citizen.