Fairshake Invests $1.5M in US State Races After Primary Loss

A cryptocurrency-backed political action committee (PAC) called Fairshake has invested over $1.5 million in three US state races following a primary loss in Michigan.

The money was spent by two groups affiliated with Fairshake, Defend American Jobs and Protect Progress, on media to support House of Representatives and Senate candidates in Florida, Alaska, and Wyoming.

Much of the spending went towards supporting Republican and Democratic candidates who voted in favor of the Digital Asset Market Clarity (CLARITY) Act while serving in Congress.

In Alaska's at-large congressional district, Defend American Jobs spent over $500,000 on media supporting Representative Nick Begich's re-election. In Florida's 16th district, the group spent a similar amount on Republican candidate Sydney Gruters, and in Wyoming, it supported Representative Harriet Hageman running for the soon-to-be-vacant Senate seat.

The reported expenditures follow a primary loss for a Protect Progress-supported candidate in Michigan's 13th Congressional District. The Super PAC poured more than $2 million into media supporting Democratic incumbent Shri Thanedar, who lost to State Representative Donavan McKinney on Tuesday.