CryptoIntelligence 2024-06-18 22:36:19

Crypto-Backed PAC Spends Millions to Oppose Incumbent in NY Democratic Primary

Crypto-Backed PAC Spends Millions to Oppose Incumbent in NY Democratic Primary

The Fairshake group, a political action committee (PAC) backed by crypto firms like Ripple and Coinbase, has invested over $2 million in opposing the incumbent in the Democratic primary for New York’s 16th Congressional District. Federal Election Commission data reveals that Fairshake spent more than $2 million on a media campaign against Democratic Representative Jamaal Bowman’s reelection. By June 16, outside interest groups had contributed approximately $9 million opposing Bowman, who is contending against Democrat George Latimer in the June 25 primary. The Fairshake ad, which does not specifically mention crypto or blockchain, accused Rep. Bowman of spending his career

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