In September 2024, crypto PAC Fairshake made significant contributions to the election campaign, spending $29 million to support both Democrats and Republicans.

Crypto PAC Fairshake and Election Spending

Crypto PAC Fairshake allocated $20 million to support two affiliated PACs: $15 million went to Defend American Jobs PAC and $5 million to Protect Progress. These funds highlight Fairshake's strategy to influence both parties.

Supporting Candidates in Critical States

The remaining $8.8 million was distributed among candidates in critical states such as New York, Nevada, and California. Among the recipients were Southern California Republicans David G. Valadao ($1.3 million) and Michael Garcia ($1 million), as well as Democrats Patrick Ryan of New York ($1.9 million), Steven Horsford from Nevada ($1.7 million), and Angela Dawn Craig of Minnesota (nearly $1 million).

Impact of the Crypto Industry on 2024 Elections

In September, Fairshake supported Democratic candidates with $6.2 million and Republicans with $2.3 million. Protect Progress also contributed over $10 million to Senate candidates in Arizona and Michigan. Political donations from the crypto industry have surpassed $190 million ahead of the 2024 elections, according to a Public Citizen report.

The activity of crypto PAC Fairshake in the 2024 election campaign underscores the growing influence of the cryptocurrency industry on political processes in the United States.