Key facts
- Crypto-backed PACs have spent more than $8 million on media to support candidates in primaries in New York, Maryland, and Utah.
- Protect Progress PAC, an affiliate of Fairshake, has focused significant spending on races in Maryland and New York.
- Defend American Jobs, another Fairshake affiliate, supported Republican Blake Moore in Utah.
- Some Maryland candidates have publicly opposed "outside spending from crypto billionaires."
- PACs are expected to shift focus to upcoming primaries in Colorado and Arizona.
Crypto-backed political action committees (PACs) have disclosed spending over $8 million on media to support candidates in upcoming primary elections in New York, Maryland, and Utah. These expenditures aim to influence the composition of Congress in 2027.
In Maryland, the Protect Progress PAC, an affiliate of Fairshake, has allocated over $516,000 to support April McClain Delaney in the 6th congressional district. The PAC has also directed substantial funds towards other races, including over $5.5 million for Ritchie Torres in New York's 15th district and $1.4 million for Adrian Boafo in Maryland's 5th district. Additionally, Protect Progress spent approximately $24,000 opposing Quincy Bareebe and $74,000 opposing Harry Dunn, both running against Boafo.
Candidates Quincy Bareebe, Harry Dunn, and Rushern Baker issued a statement criticizing the "influence of dark money and special interests" and questioned whether state officials supported the "nearly $8 million in outside spending from crypto billionaires and AIPAC." They urged Adrian Boafo to reject such funding.
In Utah, Defend American Jobs, another Fairshake affiliate, reported spending over $400,000 to support Republican Blake Moore in the 2nd congressional district primary. This follows a significant spending effort by the PAC in an Alabama primary runoff.
The Fellowship PAC, funded by $11 million from Cantor Fitzgerald and Anchorage, disclosed $300,000 in spending to support Ritchie Torres' campaign in New York.
Looking ahead, crypto-aligned PACs are anticipated to turn their attention to upcoming primaries in Colorado and Arizona. Fairshake and its affiliates previously invested over $10 million in Arizona's Senate race and $2.1 million for Representative Yadira Caraveo in Colorado.