Crypto PACs go undefeated in June primaries as Fairshake scores bipartisan winning streak
Winners included Democrats Zoe Lofgren, Ted Lieu, Dave Min and Rob Menendez, as well as Republican Sen. Mike Rounds, with Democrats accounting for 10 of the 11 victories.
What to know:
- Crypto-backed super PACs aligned with Fairshake saw all 11 of their endorsed candidates advance or win in Tuesday’s primaries, extending the industry’s recent electoral winning streak.
- The victories, spanning key races in California, New Jersey and South Dakota, highlight a strategy focused on cultivating new Democratic allies alongside some Republicans rather than relying solely on established crypto champions.
- Coming on the heels of multimillion-dollar wins in Texas and amid uncertainty over which party will control Congress, crypto groups are pursuing a bipartisan approach to preserve influence regardless of November’s outcome.
Among the winners were California Democrats Zoe Lofgren, Ted Lieu, Dave Min, Lou Correa, and George Whitesides, along with New Jersey Democrat Rob Menendez as well as South Dakota Republican Mike Rounds.
All this comes just a week after crypto-backed groups scored another series of victories in Texas, where Fairshake affiliates and other industry-backed PACs spent more than $9 million supporting candidates across both parties.
The most notable defeat in Texas was Rep. Al Green, a longtime crypto critic and House Financial Services Committee member who held an F rating from Stand With Crypto.
With Polymarket bettors divided on which party will control Congress after November, crypto groups have increasingly pursued a bipartisan strategy, seeking to ensure they retain influence regardless of whether Democrats, Republicans, or a split government emerges from the midterms.
