Crypto PACs Pour $8 Million into Congressional Primaries

Federal Election Commission filings reveal that Protect Progress, a key affiliate of the crypto industry-backed Fairshake, accounts for the bulk of this capital. The group funneled over $5.5 million into Maryland’s 5th Congressional District to support state Delegate Adrian Boafo. In New York, the PAC directed more than $1.4 million toward incumbent Representative Ritchie Torres, while also backing April McClain Delaney in Maryland’s 6th District with over $516,000.

Beyond direct support, these PACs are actively working to undermine rivals. Protect Progress reported nearly $100,000 in media spending opposing Quincy Bareebe and Harry Dunn, both of whom are running against Boafo. This surge of outside capital has drawn sharp rebukes from local candidates, including Dunn and Bareebe, who issued a joint statement demanding that Maryland’s Democratic leadership address the influence of industry-backed donors in their primaries.

In Utah, the focus shifted to the GOP side as Defend American Jobs—another Fairshake-linked entity—spent over $400,000 supporting Representative Blake Moore. Fellowship PAC, funded by firms like Cantor Fitzgerald and Anchorage Digital, added another $300,000 to the effort behind Torres in New York. As the industry eyes upcoming contests in Colorado and Arizona, these expenditures underscore a broader strategy of leveraging massive financial resources to secure influence in competitive congressional races across the country.