Crypto PACs pour $3M into Maryland races as California voters head to polls
An affiliate of a political action committee backed by crypto companies ramped up spending on ads in California ahead of Tuesday’s primaries, but still has millions of dollars at stake in Maryland later this month.
While residents of California, Iowa, Montana, New Jersey, New Mexico and South Dakota are voting today in Democratic and Republican Congressional primaries, the cryptocurrency industry is more focused on the Maryland primaries later this month.
According to filings with the US Federal Election Commission (FEC) as of Tuesday, the Coinbase- and Ripple-backed political action committee (PAC) Fairshake affiliate Protect Progress spent about $3 million combined to support Democratic candidates in House races across California and New Jersey. Another affiliate, Defend American Jobs, spent more than $411,000 to support Republican Senator Mike Rounds’ reelection bid in South Dakota.
In addition to its activities in California, Protect Progress appeared to be prepared for significant spending in Maryland, where primary elections are scheduled for June 23.