A crypto-funded super PAC is poised to back two Republican candidates in the U.S. House of Representatives elections in Florida, according to Politico.
Support for Congress Candidates
According to a March 21 report by Politico, the super PAC includes Fairshake, Defend American Jobs, and Protect Progress. Defend American Jobs will start by airing a $1.2 million ad for Florida State Senator Randy Fine, who aims to replace former representative Michael Waltz, who resigned to serve as national security adviser to U.S. President Donald Trump. Fine stated on January 14th that 'Floridians want crypto innovation!' and emphasized the need for clear regulations.
Actions of Defend American Jobs
Beyond Fine, the organization is spending $345,000 to support Florida's Chief Financial Officer Jimmy Patronis in his bid to replace Matt Gaetz, who was nominated by Trump for U.S. attorney general. Patronis, as CFO, requested a report on the feasibility of investing part of the state's pension fund in digital assets. There are currently four vacancies in the U.S. House of Representatives, two of which are in Florida. If Democrats were to win all spots, it would result in just a one-seat advantage for Republicans in the House.
Super PAC Financial Activities
Defend American Jobs supported Fine and Patronis during the primaries, spending over $500,000 on Fine and $200,000 on Patronis. The PAC, located in Alexandria, Virginia, raised and spent around $60 million from 2023 to 2024 with a focus on securities and investments, including crypto. Defend American Jobs primarily supports Republicans, whereas Fairshake supports candidates from various parties.
The crypto-oriented super PAC is enhancing its political influence by supporting Republican candidates in the upcoming congressional elections, highlighting the increasing relevance of the crypto industry in the U.S. political arena.
