Fairshake, a prominent cryptocurrency-focused political action committee, plans to invest $25 million in television advertising campaigns to support 18 House candidates from both parties.
According to Fairshake spokesperson Josh Vlasto and Fox Business correspondent Eleanor Terrett, the effort highlights the growing bipartisan consensus around the importance of crypto and blockchain in the future economy.
The political committee will support nine candidates from both parties who have different political views.
Vershak’s goals
Fairshake supports candidates committed to advancing crypto-friendly legislation and fostering innovation in the United States. Their recent efforts include supporting House Financial Services Committee Chairman Patrick McHenry, Rep. Dusty Johnson, and Rep. Josh Gottheimer (D-NJ), all of whom are key figures in promoting crypto legislation.
The PAC is backed by major crypto companies like Coinbase, Ripple, and Andreessen Horowitz. Most recently, Fairshake helped Spend The organization spent more than $37 million on primary advertising, contributing to notable victories, including Rep. John Curtis’s win in Utah. The organization continues to influence elections through large contributions and strategic advertising.
Fairshake PAC and its affiliates recently won three state primaries after losing in Arizona. The committee backed Wesley Bell, Bob Onder and Shri Thanedar in Missouri and Michigan, while Emily Randall won the 6th District in Washington.
Fairshake, along with Defend American Jobs PAC and Protect Progress PAC, Spend $4 million to support pro-crypto candidates and oppose anti-crypto candidates like Cori Bush.
What is PAC?
A PAC, short for political action committee, is a group that raises and uses money to support and/or oppose political candidates.
Political action committees typically follow specific donation restrictions and reporting rules and operate within strict contribution limits from individuals and entities. They may also contribute directly to candidates’ campaigns.
Independent political action committees, on the other hand, have the ability to raise and spend unlimited amounts of money, but are not allowed to coordinate directly with candidates or political parties.
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