After successfully spending over $10 million to defeat Democrats US Senate candidate In California earlier this week, a well-funded super PAC backed by crypto moguls has set its sights on several other key Senate races that could decide the balance of power in Congress.
FairShake PAC will focus its efforts for the remainder of this election cycle on four U.S. Senate races in Ohio, Montana, Maryland and Michigan, FairShake spokesman Josh Brust confirmed. Decryption.
Fairshake has so far raised more than $85 million, primarily from major crypto players Coinbase, Ripple Labs, and Andreessen Horowitz, and has raised more than $85 million to date, primarily from major crypto players Coinbase, Ripple Labs, and Andreessen Horowitz, and has been involved in the U.S. Senate general elections in Ohio and Montana, as well as in Maryland and The company plans to spend money on ads for the Democratic primary for U.S. Senate in Michigan.
Both Ohio and Montana are home to vulnerable Democratic senators up for re-election in 2020 in states held by Donald Trump, and both senators have previously weighed in on cryptocurrencies. making critical comments.
Sen. Sherrod Brown of Ohio ran a nationwide campaign. Cryptocurrency ban In December 2022, in the aftermath of FTX's historic collapse. That same month, Montana Sen. Jon Tester Said He thought there was “no reason” for cryptocurrencies to exist.
Importantly, however, Fairshake has not announced support for the campaigns of the two senators. Instead, he only said the PAC would have some form of presence in the general election race, and if Brown and Tester pivot quickly enough to pro-crypto positions, it could theoretically still be a PAC. This suggests that there is a possibility of gaining support.
Fairshake declined to say by when he would decide which candidates to support in the Ohio and Montana races, only saying he was looking at the elections holistically.
“We will evaluate the candidate's leadership on issues important to the crypto and blockchain community, the candidate's viability, the importance of the election, and the ability to influence the campaign, among other considerations,” Blast said. said in a shared statement. Decryption.
In Michigan, Mr. Fairshake will compete in the Democratic Senate primary in August, where Rep. Elissa Slotkin is leading the race. Slotkin has said little publicly about cryptocurrencies, other than what politicians have said: must be disclosed They have their own cryptocurrency trades and have previously faced off against several Democratic competitors, including actor Hill Harper. started the app It is designed to encourage people of color to participate in cryptocurrencies.
Maryland's May Democratic Senate primary will pit David Tron, co-founder of liquor retailer Total Wine, against local politician Angela Ashbrooks. Neither candidate has mentioned cryptocurrencies on their campaign websites, and neither candidate appears to have spoken publicly on the subject in the past.
Fairshake also has not yet announced which candidates he will support in Michigan or Maryland, only that he will participate in the primaries.
Democrats currently hold a slim 51-49 majority in the Senate, so any major swings in these four races could easily tip the balance of power in Washington.
The crypto industry's well-funded FairShake leadership appears confident that whoever wins in November will be able to ensure that those politicians advocate for the creation and adoption of the crypto industry. Dew. long and elusive Cryptocurrency Industry Regulation.
“It will give us the resources to influence race and the makeup of organizations at all levels,” FairShake's Brust said. “And we will strategically leverage those assets to maximize their impact to build a sustainable, bipartisan cryptocurrency and blockchain coalition.”
Edited by Andrew Hayward
