Coinbase-Backed $85 Million Crypto Super PAC Sets Its Sights on Senate Races - Decrypt
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After spending over $10 million in a successful effort to defeat a Democratic U.S. Senate candidate in California earlier this week, a cash-rich super PAC funded by the crypto establishment is setting its sights on a handful of other key Senate races that could determine the balance of power in Cong
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- After spending over $10 million in a successful effort to defeat a Democratic U.S. Senate candidate in California earlier this week, a cash-rich super PAC funded by the crypto establishment is setting its sights on a handful of other key Senate races that could determine the balance of power in Congress.
- The PAC, Fairshake, will focus its next efforts this election cycle on four U.S. Senate races in Ohio, Montana, Maryland, and Michigan, Fairshake spokesperson Josh Vlasto confirmed with Decrypt.
- Fairshake—which has raised over $85 million to date, principally from major crypto players Coinbase, Ripple Labs, and Andreessen Horowitz—will spend on ads in the Ohio and Montana U.S. Senate general elections, and in the Maryland and Michigan U.S. Senate Democratic primaries.
- Fairshake did not say by what date it will decide which candidate to support in the Ohio and Montana races, only that the organization is viewing the elections holistically
- Ohio’s Senator Sherrod Brown floated a nationwide crypto ban in December 2022, amid the fallout from FTX’s historic implosion. During that same month, Montana’s Senator John Tester said he saw “no reason why” crypto exists.
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