In the same state, Fairshake endorsed incumbent Rep. April McClain Delaney for $516,000, while contributing ad expenses in other states’ Tuesday primaries to Republican incumbent Rep. Blake Moore in Utah and $1.3 million to one of the industry’s most trusted allies in the House, Rep. Ritchie Torres, a New York Democrat. All also won their races or were in the process of winning, with McClain Delaney leading while votes were still being counted.
The most recent Federal Election Commission filings showed Fairshake had about $126 million left at the end of last month. But he is spending a lot of money ahead of the November general elections, during which the fate of the US Congress for two years will be decided.
If Boafo helps lead to the rise of a new Democratic majority in the House, the crypto industry will have a campaign finance connection to him and other PAC-backed Democrats. A Democratic majority is pegged at 79% odds on betting on the Kalshi prediction market platform, and if the party achieves that status, it will chair all committees, with control of the chamber’s agenda and subpoena power.
Fairshake’s approach is to flood pro-crypto candidates from both parties with large-scale independent ads that cannot legally be coordinated with campaigns. The ads generally do not mention crypto as a political issue, but are simply calculated to use the political message that would be most helpful to candidates.
