Industry-specific PAC continues to expand allies, while the congress advises on crypto legislation
The political financial low of the crypto industry, the important campaign financing organization Fairshake, has put another $ 1 million in the cash register of a candidate for a by-election who is aiming to replace a deceased Democrat from Virginia, Member of Gerald Connlly.
The candidate supported by the most important political action committee of the industry,James Walkinshawwon the so -called DemocratsFire brigade main election on the weekendin which the party carried out its own surveys to determine its selected candidates under nine applicants. The regular choice for the formal determination of the next congress member of the Fairfax County region is scheduled for September 9th, although the democratic incumbent received about two thirds of the votes last year, which gives Walkinshaw a significant advantage.
“We look forward to the fact that James join the growing, non -partisan coalition in the congress, which understands the importance of securing America's leadership role in the next technology generation,” said Josh Vlasto, spokesman for Fairshake. He argued that the election campaign had again shown that voters do not react to critics who try to discredit candidates who support the sector and are supported by their campaign resources, as at least one opponent of Walkinshaw tried.
Fairshake (as well as his connected Super Pacs Defend American Jobs and Protect Progress) In the 2024 congress elections, it received great attention by accumulating a significant campaign budget from important companies in the field of digital assets, including Coinbase, Ripple and A16Z. The group used its campaign expenditure in exceptionally high amounts, which in some cases far exceeded the expenditure of the opponents of the favorite candidates. As a result, Fairshake was able to add a long list of winners to the supporters of cryptocurrencies in the congress, but continued this strategy in special elections, in which individual mandates such as Connolly should be filled.
In the case of Walkinshaw, the former chief of staff of Connolly, the editions of Protect Progress, an organization that focused on democratic candidates. While his former boss …voted routinely against crypto affairsWalkinshaw's campaign website explains that the candidate supports an “openness to the next technology generation”, including blockchain technology, which, according to the campaign, can reduce administrative costs for companies and reduce fees for consumers. “
“The congress should create modern, risk -based regulatory framework that supports responsible innovations and prevent abuse.”According to the Walkinshaw website“”
According to Vlasto, the Super PAC still has around $ 116 million, while the election cycle for the 2026 Congress is approaching next year. Current congress members, which he supported in the past round, are already working on significant crypto laws that have been promoted this year.
Fairshake makes extensive “independent expenses” in political election campaigns, which means that your external capital buys advertising, without consent or communication with the candidate. Although the group represents the interests of the crypto industry, the advertising it has almost never mentions the topic of digital assets, but instead focuses on political points that are highly likely to contribute to the election victory.
Learn more:Crypto's Fairshake recorded recent successes in the Congress elections in Florida
