Crypto industry super PAC is 33-2 in primaries, with $100 million for House, Senate races

• A super PAC bankrolled by a small group of crypto companies has backed the winning candidate in 33 of the 35 House and Senate primary races it entered.
• Fairshake PAC kicks off the general election season with a strong track record and at least $100 million to spend on crypto-friendly members of Congress.
• The PAC has spent tens of millions already on ads that rarely mention crypto. Instead, the messages they deliver about "fairness" and "integrity."

WASHINGTON — A super PAC bankrolled by top crypto companies notched several wins Tuesday night in congressional primaries, the latest in a series of victories by the newest big player in American election financing.

Fairshake PAC, which supports candidates across the political spectrum whose positions align with the crypto industry's, will enter the general election campaign season with more than $100 million that it plans to spend to elect pro-crypto lawmakers to the House and Senate.

On Tuesday night, Rep. Jamaal Bowman, D-N.Y., lost his primary to Westchester County Executive George Latimer. Bowman's loss was due in part to his vocal criticisms of Israel. Yet crypto's Fairshake PAC also got into the race and spent $2 million to air an ad critical of Bowman.

Fairshake and its two affiliated PACS, one for Republicans, one for Democrats, quietly racked up half a dozen other wins on Tuesday as the candidates they backed glided to victory, although none of the races were competitive. They included Rep. John Curtis, who won the Republican nomination for Utah's open Senate seat.

Created last year as part of a joint effort between more than a dozen crypto firms, Fairshake PAC has emerged as one of the top spending political actions committees in the 2024 election cycle.

Fairshake