Crypto Super PAC Spending Sparks Resistance from Some Democrats

Crypto's growing influence in U.S. politics has sparked resistance from some Democrats, who view it as a threat to their party's values. In Illinois, Lt. Gov. Juliana Stratton took on a roughly $10 million spending barrage from a crypto super PAC while campaigning against ties to Trump.

Stratton derided the spending as being driven by a 'MAGA-backed crypto PAC.' Though crypto wasn't a major focus for her, she used it to her advantage. A POLITICO poll found that only 4 percent of Americans would weigh a candidate's stance on crypto policy in an upcoming election.

However, the industry's enormous spending has also proven beneficial for some candidates. Fairshake, the leading super PAC group, has won 50 out of 54 races it has engaged in this year. Geoff Vetter, a spokesperson for the group, said, 'We're just getting started building the largest pro-crypto Congress in history.'

Crypto supporters argue that siding with the industry is an asset. They claim there's a sizable bloc of 'crypto voters' who own digital assets and could be persuaded by the issue in a general election.