Crypto Politics in the US: Crypto PAC Fairshake Throws $25 Million to 18 House Candidates

Bittime - Crypto politics in the US is heating up with the latest actions from Crypto PAC Fairshake. With $25 million in funding, this PAC supports 18 House candidates from both major parties in an effort to advance the interests of the crypto industry. 

This article will examine the impact of Fairshake's move and how crypto politics is increasingly influencing the political arena in the United States.

Apa Itu Crypto PAC Fairshake? 

Crypto PAC Fairshake is a super PAC funded by digital asset companies and focused on supporting pro-crypto candidates. 

This PAC aims to challenge candidates who are known to oppose cryptocurrencies, especially those who are at odds with Senator Elizabeth Warren, a major critic of the crypto industry. 

Fairshake and its affiliated organizations, Defend American Jobs PAC and Protect Progress PAC, have invested approximately $4 million in the primary to strengthen the positions of pro-crypto candidates and counter anti-crypto candidates.

Read Also: Grayscale Proposes Rule Changes for Ethereum Spot ETF Options

Crypto Politics in the US and the Fairshake Campaign 

Fairshake invested heavily in a television advertising campaign to support 18 House candidates. 

Of the total $25 million spent, $1.4 million was used against anti-crypto candidate Cori Bush, $250,000 to support Bob Onder, and $1 million to Shri Thanedar. 

Although this investment was significant, Fairshake faced challenges from opposition efforts that also poured $9 million to remove Bush from his primary position.

How Fairshake Influences Politics 

Fairshake's efforts show how much influence the crypto industry has in US politics. With more than 52 million crypto owners in America and the industry creating thousands of jobs, this PAC sees an opportunity to influence policy through supporting candidates who support more crypto-friendly adoption and regulation. 

This is in line with a bipartisan trend of increasingly recognizing crypto and blockchain as an important part of the future economy.

Conclusion 

The big step taken by Crypto PAC Fairshake illustrates how serious crypto politics in the US has become. 

With large investments in supporting pro-crypto candidates, this PAC seeks to direct the direction of political policy to support the development of the crypto industry. 

These developments signal that politics and crypto are increasingly inseparable, with impacts that may be felt far into the future.

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