Crypto PACs Spend $1.5M on US State Races After Primary Loss

Two cryptocurrency-backed political action committees (PACs) have invested $1.5 million in three US state races following a primary loss in Michigan.

The PACs, Defend American Jobs and Protect Progress, are affiliated with Fairshake, a company that supports the Digital Asset Market Clarity (CLARITY) Act.

The funds will be used to support House of Representatives and Senate candidates in Florida, Alaska, and Wyoming, where primaries are scheduled for August 18th.

In Alaska's at-large congressional district, Defend American Jobs spent over $500,000 on media supporting Representative Nick Begich's re-election.