Cryptocurrency-backed political action committees have poured more than $8 million into congressional primary races across Maryland, New York, and Utah ahead of Tuesday’s elections. The spending, disclosed in filings with the U.S. Federal Election Commission, is largely driven by groups affiliated with Fairshake, a crypto industry-backed PAC that has become a dominant force in the 2026 election cycle.
Protect Progress, a Fairshake affiliate focused on Democratic candidates, directed the bulk of its expenditures toward two high‑profile primaries. In Maryland’s 5th Congressional District, the PAC spent over $5.5 million backing state Delegate Adrian Boafo, who is running to replace retiring Congressman Steny Hoyer. In New York’s 15th District, Protect Progress reported more than $1.4 million supporting incumbent Representative Ritchie Torres. Additional outlays included roughly $516,000 for April McClain Delaney in Maryland’s 6th District and advertising opposing candidates Quincy Bareebe and Harry Dunn.
Another Fairshake affiliate, Defend American Jobs, spent over $400,000 aiding Republican Representative Blake Moore in Utah’s 2nd District. Separately, Fellowship PAC—backed by about $11 million from Cantor Fitzgerald and Anchorage Digital—disclosed $300,000 in support of Torres. The spending patterns echo Fairshake’s earlier $12 million deployment in Alabama’s Republican Senate runoff.
As primaries unfold, Senate negotiations on the CLARITY Act—a major digital asset market structure bill—are intensifying with the July 4 recess looming. Lawmakers are focusing on committee language, ethics provisions, and illicit finance rules. The Digital Chamber organized over 50 member meetings with Senate offices Tuesday and a tax‑focused fly‑in with House offices Wednesday, reflecting heightened urgency.
Looking ahead, Colorado and Arizona primaries (June 30 and July 21) could become the next targets for crypto PACs. During the 2024 cycle, Fairshake spent more than $10 million in Arizona and $2.1 million in Colorado, signaling future investment potential.
