Fairshake and affiliates deploy millions in media buys to sway US primaries, signaling crypto’s growing political influence.
Crypto advocacy groups have invested $12 million in Alabama’s Senate primary runoff, backing candidates aligned with digital asset policies. Stand With Crypto, linked to Coinbase, rated candidates based on public statements and voting records, favoring those supporting crypto legislation in Congress.
Fairshake and its affiliates have already spent heavily in Texas and California primaries, with additional stakes in Maryland and New York races later this month. The PACs back Democrats Adrian Boafo and Ritchie Torres with $5 million and $500,000 in media buys, respectively. Fairshake’s $193 million war chest underscores the industry’s push to shape electoral outcomes.
The Alabama runoff follows recent primary wins for crypto-backed candidates, highlighting the sector’s expanding role in US elections. Other PACs, including the Blockchain Leadership Fund and Fellowship PAC, have also contributed to pro-crypto candidates, though some filings show no recent expenditures.