Two Republican candidates supported by the political action committee Fairshake have secured seats in the US House of Representatives following recent special elections in Florida.
Republican Victory in Florida
Jimmy Patronis and Randy Fine, both Republicans, emerged victorious in their respective districts according to data from the Associated Press. Patronis won Florida’s 1st Congressional District with 57% of the vote, defeating Democrat Gay Valimont. The seat was previously held by Matt Gaetz. Fine secured victory in Florida’s 6th Congressional District with 56.7% of the vote against Democrat Josh Weil, a public school teacher.
Support from Crypto PAC Fairshake
Fairshake, supported by major crypto industry players, significantly contributed to both Republican campaigns, spending approximately $1.16 million on advertising to back Fine and directing $347,000 to Patronis’ campaign.
Impact on US Crypto Policy
Both newly elected lawmakers have publicly voiced their support for the cryptocurrency sector. These victories bolster Republican efforts to advance crypto-friendly legislation, including the recently introduced GENIUS Act aimed at regulating stablecoins.
The Republican victories strengthen the party's majority in Congress and may significantly impact the advancement of crypto legislation in the US.
