California · US Senate · South Korea · Republicans · Cointelegraph
FEC filings showed the crypto-backed PAC spent more than $3.1 million on media to support Democratic candidate Adrian Boafo
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Today's California races will be another test of the cryptocurrency industry’s influence over US elections after Fairshake and other PACs backed House and Senate candidates who won their primaries in Texas last week.
Key facts
- FEC filings showed the crypto-backed PAC spent more than $3.1 million on media to support Democratic candidate Adrian Boafo in Maryland’s 5th district, and about $320,000 on Ritchie Torres
- According to filings with the US Federal Election Commission (FEC) as of Tuesday, the Coinbase- and Ripple-backed political action committee (PAC) Fairshake affiliate Protect Progress spent about $3
- After advancement by the US Senate Agriculture Committee in January and the Banking Committee in May, lawmakers have added the Digital Asset Market Clarity (CLARITY) Act to the chamber’s calendar
- While residents of California, Iowa, Montana, New Jersey, New Mexico and South Dakota are voting today in Democratic and Republican Congressional primaries, the cryptocurrency industry is more
Summary
An affiliate of a political action committee backed by crypto companies ramped up spending on ads in California ahead of Tuesday’s primaries, but still has millions of dollars at stake in Maryland later this month. While residents of California, Iowa, Montana, New Jersey, New Mexico and South Dakota are voting today in Democratic and Republican Congressional primaries, the cryptocurrency industry is more focused on the Maryland primaries later this month. According to filings with the US Federal Election Commission (FEC) as of Tuesday, the Coinbase- and Ripple-backed political action committee (PAC) Fairshake affiliate Protect Progress spent about $3 million combined to support Democratic candidates in House races across California and New Jersey.