After Major Loss, Crypto PACs Put $1.5M Into 3 US State Races

Fairshake-affiliated political action committee groups have reported fresh ad spending aimed at congressional races in several states after a loss in Michigan earlier this week, according to Federal Election Commission (FEC) filings.

As of Thursday, Defend American Jobs and Protect Progress—two Fairshake-connected entities—disclosed more than $1.5 million combined on media advertising supporting candidates in Florida, Alaska, and Wyoming. The spending comes shortly after Protect Progress suffered a primary setback in Michigan’s 13th district, following more than $2 million in earlier advertising for the candidate who ultimately lost.

Key takeaways

• Fairshake PAC affiliates Defend American Jobs and Protect Progress reported spending over $1.5 million on election ads in Florida, Alaska, and Wyoming, per FEC filings.
• Alaska’s at-large district: Defend American Jobs spent more than $500,000 supporting Rep. Nick Begich ahead of a primary scheduled for Aug. 18.
• Florida and Wyoming races were also targeted, including spending for Republican candidates running in primaries set for Aug. 18.
• The new ad activity follows a Michigan primary loss for a Protect Progress-supported candidate, after the group spent more than $2 million earlier.
• The spending underscores ongoing efforts by Fairshake and crypto-aligned groups to influence U.S. politics around proposed market-structure legislation.

Fairshake affiliates pivot to other primaries

Federal Election Commission disclosures show that Fairshake-linked entities Defend American Jobs and Protect Progress—cited in the FEC records as PAC affiliates—spent a combined $1.5 million on ads backing both Republican and Democratic candidates.

In Alaska’s at-large congressional district, Defend American Jobs spent more than $500,000 on media supporting the re-election of Representative Nick Begich. The filings also show roughly similar levels of advertising for GOP candidate Sydney Gruters in Florida’s 16th district and for Representative Harriet Hageman, who is running for a Wyoming Senate seat expected to be vacated by Cynthia Lummis.

Florida’s 16th district, Alaska’s at-large contest, and the Wyoming Senate race all face primaries scheduled for Aug. 18, according to the reporting described in the article.

Michigan loss highlights the stakes for crypto-backed advocacy

The new expenditures follow a primary loss in Michigan’s 13th Congressional District. Earlier this week, Democratic incumbent Shri Thanedar lost a primary to State Representative Donavan McKinney after Protect Progress had spent more than $2 million on media supporting Thanedar, the earlier coverage cited in the article notes. Thanedar’s current term ends in January 2027.

For crypto-aligned PAC operations, the contrast between large ad buys and outcomes in primaries is a reminder that political advertising is not a guaranteed lever—even for well-funded groups. The Michigan result also illustrates how quickly spending strategies can shift once a race turns unexpectedly.

Who received support—and how voting records factor in

On the Democratic side, Protect Progress reported spending more than $50,000 on media supporting Lois Frankel’s re-election in Florida’s 23rd district. The article states that Frankel, Begich, and Hageman all voted in favor of the GENIUS Act and CLARITY Act while serving in Congress.

By contrast, the filings discussed for Sydney Gruters did not indicate public crypto-related positions beyond participation in a questionnaire process overseen by the advocacy organization Stand With Crypto. According to the article, Gruters stated in that questionnaire that she supports the crypto market structure bill.

That distinction—between candidates with clear legislative voting records on one hand and candidates whose support is supported primarily by advocacy questionnaires on the other—helps explain why crypto-aligned groups may tailor messaging and funding even when the broader policy objective is the same.

Campaign spending ramps up around market-structure bills

The reported expenditures fit into a broader pattern of election-focused activity by Fairshake and groups aligned with the cryptocurrency industry. The article notes that in the 2024 election cycle, Fairshake-related spending reached more than $170 million across House and Senate races, potentially influencing the composition of the current Congress.

Just as importantly, the article frames these ad buys in the context of crypto market-structure legislation—particularly the Digital Asset Market Clarity (CLARITY) Act—whose future congressional action could shape how industry groups approach the 2026 midterms.

While it was unclear as of Thursday whether the U.S. Senate would vote on the CLARITY Act before a month-long recess, the way lawmakers cast votes on the bill could determine whether crypto-aligned organizations actively back or oppose particular candidates ahead of re-election contests.

The article also points to earlier outreach from Stand With Crypto in which it described a “primary goal” for 2026: advancing crypto market structure legislation. It further notes that Stand With Crypto rates political candidates based on their record of support or opposition, using public statements and voting history—information that PACs and allied groups may rely on when deciding where to allocate resources.

What to watch next in U.S. crypto politics

With primaries on Aug. 18 and the CLARITY Act’s potential Senate vote still uncertain, investors and builders in the crypto space may want to track not only which candidates are winning races, but also how congressional voting records and public commitments evolve—since those signals may influence how aggressively Fairshake-linked groups and crypto-aligned organizations deploy funding into the 2026 election cycle.