Crypto PAC achieved significant success in the U.S. primaries, with Fairshake preparing for the election with $122 million

The U.S. primary election season is nearing its end, and the cryptocurrency industry's super political action committee (PAC) has achieved victories in several key districts. Supported by major contributors such as Coinbase, Ripple, and a16z, Fairshake has helped approximately 50 candidates win nominations, including Massachusetts Democratic Congressman Jake Auchincloss, as well as Republican Senate candidates Barry Moore from Alabama, Andy Barr from Kentucky, Kevin Hern from Oklahoma, and Harriet Hageman from Wyoming. Prediction markets Polymarket and Kalshi indicate that these candidates have a winning probability of over 94% in the general election.

Fairshake spokesperson Geoff Vetter stated that the organization has reserved $122 million for the fall elections. However, Fairshake also faced its biggest setback in Illinois, spending over $10 million in an attempt to prevent Democrat Juliana Stratton from securing the nomination but was unsuccessful. Additionally, the Fellowship PAC, supported by Cantor Fitzgerald and Anchorage Digital, has actually spent about $11 million, far less than the previously claimed $100 million; the Digital Freedom Fund, funded by the Winklevoss brothers with $21 million, has yet to engage in support for specific candidates.