Crypto PAC pours $1M into Michigan Democratic primary race
An affiliate of the cryptocurrency-aligned political action committee (PAC) Fairshake is attempting to influence voters in a primary race for Michigan’s 13th congressional district, with about $1 million in media on the line.
In filings with the US Federal Election Commission (FEC) as of Tuesday, the Protect Progress PAC had spent more than $986,000 on ads supportive of Democratic incumbent Shri Thanedar and opposing his challenger, Donavan McKinney. The reported expenditures came two weeks before the Democratic candidates were set to face off in an Aug. 4 primary to determine who will stand in the November general election.
Source: FEC
The media spending echoed Protect Progress’ moves from 2024, when the PAC spent about $1 million supporting Thanedar. That year, he defeated Democratic primary candidates with 54.9% of the vote, and Republican and other party challengers in the November election with 68.6%.
Fairshake and its affiliates reported having $191 million in their war chest to potentially influence voters in key elections. The PACs are just a few of many aligned with the industry attempting to send what they consider “pro-crypto” candidates to the next US Congress. Others included Fellowship, backed by Cantor Fitzgerald and Anchorage Digital, and the Blockchain Leadership Fund, a hybrid PAC backed by Anchorage and Chainlink Labs.
Related: Crypto-backed candidates notch wins in three US state primaries
McKinney did not run against Thanedar in 2024, nor had he appeared to have made any significant public statement directly supporting or opposing digital assets. Thanedar, in contrast, voted for many crypto-related bills while serving in the House of Representatives, including the CLARITY Act, GENIUS Act and Promoting Innovation in Blockchain Development Act. He also reportedly lost more than $600,000 in the second quarter of 2026 after investing $3.7 million of campaign funds into crypto companies.
“Shri has voted for every bill [Donald] Trump and the crypto lobby have brought to Congress,” said McKinney in a Tuesday statement on the PAC spending, adding:
“The crypto lobby is paying my opponent back for helping Trump make over $1 billion since taking office.”
PAC’s sights set on Washington as well
In addition to Protect Progress’ activity in Michigan, the PAC spent more than $100,000 on media supporting Representative Greg Stanton’s reelection bid in Arizona. Like Thanedar, Stanton voted in favor of CLARITY and GENIUS in the House. He won his primary on Tuesday for Arizona’s 4th congressional district with 65% of the vote.
The state of Washington’s party primaries, also scheduled for Aug. 4, could also see some influence from a Fairshake affiliate. According to FEC filings, the Defend American Jobs PAC spent more than $65,000 on media to support Amanda McKinney, a Republican running for Washington’s 4th district who has made at least one public statement supporting crypto. Representative Dan Newhouse announced in 2025 that he would not pursue reelection in the district.
Magazine: Will the crypto lobby’s $189M campaign get CLARITY over the line?
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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