Thanedar Ousted as Crypto-Backed Congressman Loses Democratic Primary

Michigan Congressman Shri Thanedar has lost his Democratic primary election after receiving significant backing from the crypto industry.

Thanedar, an incumbent congressman, promoted crypto-friendly policies and received more than $2 million in advertising support from a super PAC backed by Coinbase and XRP.

His challenger, Donovan McKinney, won over voters by criticizing the crypto industry's political donations as 'lobbying for corporate interests.'