Five Republicans and one Democrat won or went to runoffs following primaries in Georgia, Alabama and Kentucky after a crypto-backed PAC and its affiliates spent a combined $20 million on media and ads.
Political action committees (PACs) aligned with and funded by the cryptocurrency industry notched a series of wins in three US state primaries on Tuesday, potentially setting a precedent for the 2026 midterm elections.
The Fairshake PAC and its affiliates poured a combined $20 million into supportive media for the races. The committee, largely funded by crypto companies Ripple Labs and Coinbase, is behind the Defend American Jobs PAC in supporting Republican candidates and Protect Progress PAC for Democrats considered to be “pro-crypto.”
Four Republican candidates and one Democrat won their respective primaries for US Senate and House of Representatives seats in Georgia and Kentucky, while one Alabama Republican will go to a runoff election.
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