Cryptocurrencies

announced Fairshake, a political action committee (PAC) that supported the attack ads

Fairshake, a political action committee (PAC) that supports offensive ads against various U.S. lawmakers, announced it has raised $169 million ahead of several of the nation’s primaries.

In a June 19 notice to Cointelegraph, a Fairshake spokesperson said Jump Crypto, the digital assets arm of Jump Trading, donated $10 million to the Super PAC, bringing its total donations to approximately $169 million since its launch. The group has received multimillion-dollar contributions from cryptocurrency companies including Coinbase and Ripple, as well as a previous $5 million donation from Jump Crypto, Marc Andreessen and Ben Horowitz of Andreessen Horowitz, as well as Cameron and Tyler Winklevoss of cryptocurrency exchange Gemini.

Money in politics

Fairshake may have already influenced the results of some key elections in the United States and is continuing its advertising space buys in the run-up to Election Day on November 5. In the United States, funds from Super PACs can be used to support specific candidates and political parties, but the groups are not supposed to coordinate with campaigns.

In March, California State Rep. Katie Porter lost her U.S. Senate primary race. A Fairshake ad released before the vote claimed that Porter had received campaign contributions from the “CEOs of Big Pharma, Big Oil and Big Bank” – a claim the Sacramento Bee newspaper called “mostly false “.

Source: U.S. Representative Katie Porter

about: US Policy Change Could Expose Cryptocurrencies to $20 Trillion Industry: Bitwise

Jamaal Bowman, running for re-election as U.S. Representative for New York’s 16th Congressional District, will face his Democratic challenger George Latimer in the June 25 primary. Fairshake funded a $2 million media buy in June, alleging that Bowman was promoting “dangerous conspiracy theories.” The ad does not specifically attack his opposition to major cryptocurrency legislation in the House of Representatives.

A Fairshake spokesperson told Cointelegraph that the Super PAC “will continue to support candidates who are committed to getting things done and working with industry to pass responsible regulations.” He also suggested that whatever the outcome of the US election, the commission “will have the resources to influence elections in 2024 and beyond.”

Presidential candidates gather

Less than five months before the voters who will decide the fate of the next presidential election in the United States, the candidates of the main political parties are becoming clearer. US President Joe Biden and former president and convicted felon Donald Trump are expected to meet for a debate ahead of their official nominations at the Democratic and Republican National Conventions.

The Libertarian Party has nominated Chase Oliver as its candidate for president, and Robert F. Kennedy Jr. is running as an independent. Kennedy is unlikely to appear on enough state ballots to win the election.

review: Crypto Voters Have Already Disrupted the 2024 Election – and It’s Set to Continue

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