Crypto Industry Super PAC Targets Endangered Democrats in Ohio and Montana
Fresh off a $10 million campaign to defeat Representative Katie Porter in California, the crypto industry’s super PAC has set its sights on two key Senate races in Ohio and Montana. With more than $80 million in the bank, the industry is looking to elect allies and shape favorable regulations in Congress.
The super PAC, led by Fairshake, has identified four Senate races to target this year, including the Democratic primaries in Maryland and Michigan, as well as the general elections in Ohio and Montana. These races feature the most endangered Democrats up for re-election, with Senators Sherrod Brown and Jon Tester facing serious challenges.
The industry’s push for political influence comes as lawmakers grapple with how to regulate the growing crypto market. Both Senator Brown and Senator Tester have expressed skepticism about crypto, with Senator Brown calling it a magnet for crime rings and scam artists.
Fairshake and its affiliates, including Protect Progress and Defend American Jobs, have already made their presence felt in recent House primaries and Republican races. They are evaluating candidates based on their leadership on crypto issues and the potential impact they can have on the race.
In a statement, Fairshake spokesman Josh Vlasto emphasized the group’s commitment to building a bipartisan coalition around crypto and blockchain technology. The industry’s increasing political activity underscores its desire for federal regulation to legitimize digital currency.
As the 2024 election season heats up, the crypto industry is making it clear that it intends to be a major player in shaping the political landscape. With millions of dollars at their disposal, industry leaders are determined to make their voices heard and ensure that crypto-friendly candidates are elected to office.