Crypto Industry Makes Big Push in Final Election Stretch
As the 2024 election enters its final stages, the crypto industry is making a significant effort to influence the outcome. Fairshake, a leading pro-crypto super PAC, has donated nearly $29 million in September alone, with a large chunk going to close House races.
Breaking Down the Donations
Of the $29 million donated by Fairshake, $20 million went to two affiliated PACs: Defend American Jobs PAC and Protect Progress. The remaining $8.8 million was spent on House races in New York, Nevada, and California, with several of those races considered toss-ups.
Key Recipients
Some notable recipients of Fairshake’s donations include:
- Southern California Republicans David G. Valadao and Michael Garcia, who received $1.3 million and $1 million, respectively.
- Rep. Patrick Ryan (D-NY), who received over $1.9 million.
- Rep. Steven Horsford (D-Nev.), who received over $1.7 million.
- Rep. Angela Dawn Craig (D-Minn.), who received almost $1 million.
Industry-Wide Efforts
The crypto industry as a whole has made significant contributions to this election cycle, with donations reaching around $190 million. Crypto companies have accounted for nearly half of all donations made by corporations this election cycle.
Tepid Fundraising
Despite the large donations, fundraising for Fairshake has been slow in recent months. In September, the group added around $1.1 million, with $800,000 coming from crypto firm Consensys.
Total Contributions
Fairshake has raised more than $160 million and disbursed over $37 million to support House candidates and run ads opposing Democrat Katie Porter. More than $84 million was transferred to Fairshake’s affiliate PACs.
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