Fairshake PAC and its affiliated super PAC are investing $3 million in key Senate races in Arizona and Michigan to support Democrats Ruben Gallego and Elissa Slotkin against Trump-endorsed candidates. This move has angered Republicans who previously viewed the crypto industry as an ally.
Fairshake also plans to spend $12 million to challenge Democratic Sen. Sherrod Brown in Ohio, a known skeptic of the crypto industry. Despite their previous skepticism of crypto, the group’s support for Gallego and Slotkin is attributed to their recent backing of a major crypto bill.
The spending has caused frustration among Republicans, who fear losing valuable relationships with the industry amid a challenging regulatory environment. Concerns were voiced at a recent GOP retreat in Jackson Hole, where investor Marc Andreessen and crypto representatives gathered.
An anonymous industry leader criticized Fairshake’s strategy, noting discontent with the group’s shift away from traditional Republican support and questioning the effectiveness of their approach.
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