Cryptocurrency Advocates Mobilize in Final Primaries

Following a razor-thin victory in Arizona, now subject to a recount, the cryptocurrency sector’s political forces are pivoting towards the concluding U.S. congressional primaries of 2024, focusing notably on upcoming elections in Missouri and Washington state.

Targeting Progressive Opponents

Political action committees (PACs) backed by cryptocurrency entities have launched a $1.4 million advertising offensive against Representative Cori Bush (D-Mo.), a prominent progressive in the U.S. House of Representatives. The advocacy group Stand With Crypto has graded Bush with an “F” on digital assets issues. Additionally, these PACs have funneled $1.5 million into Washington state’s 6th Congressional District to bolster Democrat Emily Randall, as per a Federal Election Commission filing.

A Narrow Victory in Arizona

In Arizona’s 3rd Congressional District, the industry achieved a precarious win where Yassamin Ansari, a Democratic ex-vice mayor of Phoenix and crypto supporter, secured a 42-vote lead, prompting a recount under state regulations.

Fairshake Super PAC’s Strategic Focus

The Fairshake super PAC, along with its associated committees, has concentrated on reshaping Congress to favor digital asset interests, deliberately avoiding the presidential race despite some PAC backers vocally supporting former President Donald Trump. Post-Tuesday’s elections, attention will shift to the general elections in November, with key states like Wisconsin, Connecticut, and Alaska wrapping up their primaries.

Fairshake’s Extensive Campaign Efforts

Fairshake’s formidable $169 million war chest has been instrumental in supporting a wide array of candidates while also opposing several. The PAC has spent approximately $10 million to thwart the Senate aspirations of Representative Katie Porter (D-Calif.) and $2.1 million against Representative Jamaal Bowman (D-N.Y.). More recently, similar efforts have been directed against Bush in Missouri.

Missouri’s Republican Contender

In Missouri, Fairshake affiliates have contributed about $260,000 to endorse Republican state senator Robert Onder in the competitive 3rd Congressional District race.

Looking Ahead

With the primaries nearing completion, the focus will soon turn entirely towards the November general election. Fairshake’s efforts in the congressional primaries have the potential to add two dozen crypto proponents from both parties to Congress in the upcoming session.