Crypto PAC Fairshake's Election Push

As the 2024 election nears its end, the leading pro-crypto super PAC, Fairshake, is making a final push to support candidates they like. They've spent a lot of money, around $29 million in September alone, according to the Federal Election Commission. Most of this money went to close House races in states like New York, Nevada, and California. Fairshake has two affiliate PACs. One, Defend American Jobs, supports Republicans, while the other, Protect Progress, backs Democrats. Together, these two groups got $20 million from Fairshake in September. The rest of the money went to candidates in tight races.

Some of these candidates are in very close races, like Southern California Republicans David G. Valadao and Michael Garcia. They each got over a million dollars from Fairshake. Other candidates in Illinois, Colorado, Oregon, Iowa, and Arkansas also got some money. Crypto companies have been big donors this election cycle. They've given around $190 million so far, with half of that coming from crypto companies. Fairshake has raised over $160 million and spent over $37 million on House candidates and ads against Democrat Katie Porter, who lost in the California Senate primary. Fairshake's donations have slowed down in recent months. In September, they only added around $1. 1 million. Most of this came from a crypto firm called Consensys, which is being sued by the SEC.

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