Success came after spending more than $10 million to defeat the Democrats. US Senate Candidate In California earlier this week, cash-rich super PACs funded by cryptocurrency companies are turning their attention to a handful of other key Senate races that could decide the balance of power in Congress.
Fairshake, a PAC, will focus the remainder of its efforts on four U.S. Senate races this election cycle: Ohio, Montana, Maryland and Michigan, Fairshake spokesman Josh Vlasto confirmed. decryption.
Fairshake, which has raised more than $85 million to date primarily from major cryptocurrency companies Coinbase, Ripple Labs and Andreessen Horowitz, plans to spend on advertising in the U.S. Senate general elections in Ohio and Montana and the U.S. Senate Democratic primaries in Maryland and Michigan.
Ohio and Montana are both home to vulnerable Democratic senators up for re-election in states led by Donald Trump in 2020, and both senators have previously made critical comments about cryptocurrencies.
Ohio Senator Sherrod Brown went on a national offensive. Cryptocurrency ban December 2022, amid the aftermath of FTX’s historic collapse. That same month, Montana Senator John Tester said He found there was “no reason” for cryptocurrencies to exist.
But crucially, Fairshake has not announced that he will support the campaigns for either senator. Instead, the PAC said only that it would exert some influence in the general election. This suggests that if Brown or Tester pivots quickly enough to a pro-crypto stance, they could theoretically still win the PAC’s support.
Fairshake did not say by when it would decide which candidates it would support in the Ohio and Montana races, saying only that the organization was looking at the election holistically.
“Among other considerations, we will evaluate a candidate’s leadership on issues important to the cryptocurrency and blockchain community, the candidate’s viability, the importance of the election, and their ability to influence the race,” Vlasto said. decryption.
In Michigan, Fairshake will participate in the August Democratic Senate primary, with Rep. Elissa Slotkin leading the race. Slotkin has rarely spoken publicly about cryptocurrencies outside of politicians. must be disclosed His own cryptocurrency trading has previously pitted him against several Democratic rivals, including actor Hill Harper. We launched our app It is designed to encourage people of color to participate in cryptocurrency.
In Maryland’s May Democratic Senate primary, David Trone, co-founder of giant liquor retailer Total Wine, will face off against local politician Angela Ashbrooks. Neither candidate appears to have mentioned cryptocurrency on their campaign websites or made public statements on the topic in the past.
Fairshake has not yet announced which candidates he will support in Michigan or Maryland, saying only that he will participate in those primaries.
With Democrats currently holding a 51-49 majority in the Senate, changes among these four races could easily upset the balance of power in Washington.
Pumping massive amounts of cash into the cryptocurrency industry, Fairshake’s leadership appears confident that whoever wins in November, those politicians will advocate for the creation and adoption of cryptocurrencies. elusive for a long time Cryptocurrency industry regulations.
“We will have the resources to influence race and the composition of institutions at all levels,” said Fairshake’s Vlasto. “And we will maximize our impact by leveraging these assets strategically to build a sustainable, bipartisan cryptocurrency and blockchain coalition.”
Editor: Andrew Hayward
