Svmuu News: According to documents filed with the U.S. Federal Election Commission (FEC) by Protect Progress PAC, an affiliate of the cryptocurrency-related political action committee Fairshake, as of Tuesday, it had spent more than $986,000 to support incumbent Democratic Rep. Shri Thanedar in Michigan’s 13th Congressional District and oppose challenger Donavan McKinney.
These expenditures occurred two weeks before the August 4 Democratic primary, which will determine the candidate for the November general election. In 2024, Protect Progress PAC spent approximately $1 million to support Thanedar, who received 54.9% of the vote in the Democratic primary that year and 68.6% in the November general election.
Fairshake and its affiliated organizations reported having $191 million in reserves to influence key elections. Other political action committees linked to the crypto industry include the Fellowship, backed by Cantor Fitzgerald and Anchorage Digital, and the Blockchain Leadership Fund, supported by Anchorage and Chainlink Labs.
The Protect Progress PAC also spent over $100,000 to support Arizona Representative Greg Stanton’s re-election bid. The Defend American Jobs PAC spent over $65,000 to support Republican candidate Amanda McKinney in Washington’s 4th Congressional District.