Image credit: Shutterstock
Crypto industry-backed political groups have spent more than $1.5 million supporting candidates in four congressional races across Florida, Alaska, and Wyoming ahead of August 18 primaries.
The new expenditures come from Defend American Jobs and Protect Progress, affiliates of the Fairshake super PAC network. The spending follows the August 4 defeat of Representative Shri Thanedar in Michigan despite more than $2 million in support from Protect Progress.
Begich, Gruters and Hageman Receive About $500K Each
Defend American Jobs reported spending more than $500,000 on media supporting Republican Representative Nick Begich in Alaska’s at-large House race.
Begich voted for both the GENIUS Act and the CLARITY Act while serving in Congress. The PAC reported roughly similar expenditures supporting Sydney Gruters in Florida’s 16th Congressional District and Representative Harriet Hageman in Wyoming’s Senate race.
Hageman, who is seeking the seat being vacated by Senator Cynthia Lummis, also voted for the GENIUS and CLARITY bills.
Gruters has no congressional voting record. She completed a Stand With Crypto questionnaire in July supporting the CLARITY Act, self-custody rights and protections preventing non-custodial software developers from being treated as financial intermediaries.
Protect Progress Spends More Than $50K on Lois Frankel
Fairshake’s Democratic-focused affiliate, Protect Progress, reported spending more than $50,000 on media supporting Representative Lois Frankel in Florida’s 23rd Congressional District.
Frankel voted for both the GENIUS Act and the House version of the CLARITY Act. Her backing alongside three Republican candidates reflects Fairshake’s use of separate affiliates to support candidates from both parties. Florida, Alaska, and Wyoming are all scheduled to hold their primaries on August 18.
$2M Thanedar Loss Pecedes August 18 Primaries
The latest expenditures follow a setback in Michigan’s 13th Congressional District, where Democratic Representative Shri Thanedar lost to state Representative Donavan McKinney. Protect Progress spent more than $2 million supporting Thanedar before the August 4 primary, according to current campaign-finance tracking and reporting based on FEC filings.
Fairshake and its affiliates make independent expenditures rather than direct contributions to candidates. The network reported spending more than $170 million during the 2024 election cycle.
Begich, Gruters, Hageman and Frankel now face the August 18 primaries as Fairshake-linked groups continue directing spending toward candidates with supportive crypto voting records or stated digital asset policy positions.
