Fairshake PAC, a pro-cryptocurrency political group, has invested millions of dollars into high-profile Michigan and Arizona Senate races to support Democrats over Donald Trump-endorsed candidates. This move has upset Republicans who viewed the crypto industry as an ally. Fairshake has pledged significant advertising spending to back Democrats Ruben Gallego and Elisa Slotkin, who have received A-ratings from Stand With Crypto, despite previously showing skepticism towards cryptocurrency. Gallego’s opponent, Kari Lake, has earned an A rating for her strong support of the industry. Fairshake’s support of these Democrats has sparked concerns among Republicans, who feel that the group risks losing its influence by targeting key GOP candidates. The GOP strategists also worry that this spending could damage Trump’s allies and hinder his chances in the presidential race. The group behind Fairshake, funded by donors like Ripple and Coinbase, aims to shape a favorable regulatory landscape by supporting crypto-friendly candidates. Overall, tensions are rising as Republicans question the motives behind Fairshake’s actions, prompting concerns about the future of the crypto industry’s relationship with conservative politicians. Democrats, such as Vice President Kamala Harris, are also seeking to establish closer ties with the crypto industry for support in the upcoming elections.
Photo credit
www.nbcnews.com
Republicans cry foul as cryptocurrency PAC supports Democrats
