Super PAC Fairshake Announces $25 Million Ad Campaign For Pro-Crypto Candidates

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Julia Smith

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Julia Smith

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Julia is an experienced editor with a passion for covering a wide variety of beats. She loves all things politics and regularly covers regulatory updates on emerging technology here for Crypto News.

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August 7, 2024 14:15 EDT

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Crypto Super PAC Fairshake announced on Wednesday that it will spend $25 million on television ad campaigns for several digital asset-friendly candidates across the crypto sector amid the 2024 election cycle.

Crypto Super PAC Fairshakes Backs 18 Political Hopefuls

Don Davis (D-NC), Michelle Steel (R-CA), and Pat Ryan (D-NY) are among the 18 House of Representative hopefuls who will receive support from the super PAC’s latest announcement.

🚨NEW: Pro-#crypto Super PAC Fairshake has just announced it will spend $25M on TV ad campaigns to support 18 House candidates from both parties listed below.

Fairshake spokesman Josh Vlasto commented:

“We are seeing a broad bipartisan consensus behind ‘crypto and blockchain as… pic.twitter.com/eSvBLsk9AT

— Eleanor Terrett (@EleanorTerrett) August 7, 2024

“We are seeing a broad bipartisan consensus behind crypto and blockchain as a critical component of the future economy,” Fairshake spokesperson Josh Vlasto said. “More than 52 million Americans own crypto with the sector responsible for tens of thousands of jobs across the country. We will continue to deploy our resources in support of leaders on both sides of the aisle and in both houses who are committed to getting things done and working with the industry to pass responsible regulation that drives innovation, creates jobs, and sustains America’s global leadership.”

News of Fairshake’s latest multi-million dollar candidate backing follows Rep. Cori Bush’s (D-O) unseating on Tuesday after Fairshake and other political PACs donated funds to run ads featuring Bush’s opposition.

Jamaal Bowman (D-NY) experienced a similar defeat earlier in June after Fairshake ran a $2 million ad campaign against him.

“Jamaal Bowman fought against setting clear rules for the crypto and blockchain industry, and tonight he’s looking for a new job,” Vlasto said in a statement at the time. “The crypto and blockchain community will continue to support candidates who believe in innovation and job creation and who reach across the aisle to get things done.”

The 2024 Election Cycle Heats Up

Crypto has become a focal point in the 2024 election cycle, with recent data from The Digital Currency Group showing that an estimated 20% of all voters in this year’s swing states find crypto to be a significant issue when considering voting for a candidate.

Presumptive Democratic nominee Kamala Harris and Republican nominee Donald Trump are both facing a flurry of activity from the blockchain sector as a whole.

On Tuesday, Crypto4Harris, a digital asset advocacy group focused on supporting Harris’ campaign, announced an August 14 town hall featuring several prominent figures in the space.

Meanwhile, Donald Trump Jr. and Eric Trump began hinting at a “big announcement” relating to cryptocurrencies.