Crypto PAC Spends Big, Scores Wins Amid Midterm Election Battle
The crypto industry's influence on American politics has been showcased through the efforts of Fairshake, a political action committee that spent $3.6 million in Alaska, Florida, and Wyoming primaries.
Out of five candidates backed by the organization, four advanced in their respective primaries, indicating a strong presence of the crypto industry in the electoral cycle.
The biggest exception was Florida, where Protect Progress invested over $2 million in negative advertising against Oliver Gilbert without securing his defeat. Despite the ads, which included fake headlines from the Miami Herald, Gilbert won with 34.4% of the vote.
Fairshake spokesperson Geoff Vetter stated that the PAC is 'just beginning to build the most pro-crypto Congress in history.'