Fun

Fairshake PAC and affiliates raise $102M to support crypto candidates

News Feed - 2024-05-07 03:05:17

Turner Wright5 hours agoFairshake PAC and affiliates raise $102M to support crypto candidatesThe Super PAC and its two affiliates have backed ads or otherwise supported efforts for crypto-focused candidates from both major political parties.1970 Total viewsListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksA political action committee (PAC) supporting candidates for federal office in the 2024 United States elections has reportedly surpassed $100 million in fundraising.


According to a May 6 report from Public Citizen, the Fairshake Super PAC and its affiliates, Defend American Jobs PAC and Protect Progress PAC, raised more than $102 million to support crypto-focused candidates in 2024. Public Citizen cited data from the nonpartisan transparency group Open Secrets, which reported the crypto-focused PACs raised more than Donald Trump’s ‘Make America Great Again’ political action committee.Source: Rick Claypool


Fairshake, which has previously backed Republican candidates, was responsible for an attack ad targeting California Senate candidate Katie Porter, a Democrat. Protect Progress backed Democratic candidates for two congressional seats in Alabama and Texas. The two candidates, Shomari Figures and Julie Johnson, won their respective primaries and will face off against Republicans in November.


Related:Super PAC tried to ‘bury a conversation’ on crypto with attack ads — Rep. Katie Porter


Large crypto firms, including Coinbase and Ripple, have donated to Fairshake and its affiliates for the 2024 elections, as crypto could be a deciding factor in tight races. Republican John Deaton, considered a long-shot candidate by many, also has the support of many in the crypto space as he attempts to unseat Massachusetts Senator Elizabeth Warren.


“Eleven primary races that include crypto-backed candidates remain [in 2024],” said Public Citizen researcher Rick Claypool in a May 6 X post. “Then it’s onto the general election, where narrow majorities mean super PAC spending can tip congressional control.”


The Public Citizen report added:“[T]he crypto super PACs should be expected to continue the sleight-of-hand tactic of pushing messages fine-tuned toward their intended outcome – defeating or electing candidates who will prioritize the sector’s interests – while distracting voters from their true purpose.”


The U.S. general election on Nov. 5 will determine the winner of all 435 seats in the House of Representatives, 34 in the Senate, and the Presidency. Control of critical committees in the U.S. government could significantly impact moving crypto-related legislation and policies forward.


Magazine:Lawmakers’ fear and doubt drives proposed crypto regulations in US# Politics# Government# United States# Elections# RegulationAdd reaction

News Feed

JP Morgan Poll: 22% of Investors Say Their Institutions Likely to Trade or Invest in Cryptocurrencies
JP Morgan Poll: 22% of Investors Say Their Institutions Likely to Trade or Invest in Cryptocurrencies A recent JP Morgan poll found that 22% of the respondents s
Can Bitcoin Price Bounce To $120,000 Or Will It Break Below $100,000?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Diamond hands: Mt. Gox creditors hodl Bitcoin despite 10-year wait
Francisco Rodrigues10 hours agoDiamond hands: Mt. Gox creditors hodl Bitcoin despite 10-year waitMt. Gox creditors defy expectations by holding onto their Bitcoin despite a decade-long wait to get their hands on it.3530
Ethereum price drops 20% in a week, but investors are still bullish
Marcel Pechman4 hours agoEthereum price drops 20% in a week, but investors are still bullishETH price fell by 20% in the past week, but futures data shows investors still believe in the bull trend.4644 Total views137 Tot
Bitcoin ETFs could soften BTC price retracement before the halving
Victoria Kennedy9 hours agoBitcoin ETFs could soften BTC price retracement before the halvingThe 2024 Bitcoin halving may have all the conditions for an impressive bullish scenario where prices reach record all-time high
Free Talk Live Co-Host Ian Freeman Found Guilty in Federal Crypto Trial
Free Talk Live Co-Host Ian Freeman Found Guilty in Federal Crypto Trial After close to two years, following the U.S. federal government accusing the Crypto Six of unlicensed money
Libra Testnet Fails to Impress as New Legislation Looms
Libra Testnet Fails to Impress as New Legislation Looms A November 15 blog post by Libra project developers detailing testnet developments has apparently failed to impress govern
Ukraine’s Tascombank Pilots Stellar-based E-hryvnia
Ukraine’s Tascombank Pilots Stellar-based E-hryvnia Tascombank, one of the oldest banking institutions in Ukraine, has completed the pilot testing of a digital currency based on
XBOW automated AI hacker matches 20-year veteran pentester in 28 minutes
Martin Young2 hours agoXBOW automated AI hacker matches 20-year veteran pentester in 28 minutesAn AI-powered penetration tester solved 88 out of 104 benchmark tests in 28 minutes. It took the best pentester in the experi
Biden Administration Lowballs Inflation Predictions, Report Says Americans Are ‘Fixated’ on Dollar Value
Biden Administration Lowballs Inflation Predictions, Report Says Americans Are "Fixated" on Dollar Value As inflation continues to wreak havoc on American wallets, the U.S. dollar&
JPMorgan: 72% of Institutional Traders Surveyed ‘Have No Plans to Trade Crypto’
JPMorgan: 72% of Institutional Traders Surveyed "Have No Plans to Trade Crypto" A new survey by JPMorgan Chase shows that 72% of institutional traders “have no plans to trad
Investor shares story of falling victim to $100K crypto hack
Ezra Reguerra11 hours agoInvestor shares story of falling victim to $100K crypto hack“I thought that my heart would stop,” said Matthias Mende, who told Cointelegraph how he felt when he realized he lost $100,000 in