Crypto PAC Spent Millions to Get Alabama Candidate on Path Toward Congress

Jesse Hamilton

Protect Progress and Fairshake — which disclose their contributors, unlike another dark-money crypto political organization, Cedar Innovation Foundation — are backed by a long list of digital assets giants, including Ripple Labs, Coinbase and the investing duo Marc Andreessen and Ben Horowitz. Unlike the campaign spending blitz of the last congressional elections, which had been led by tens of millions from former FTX CEO Sam Bankman-Fried, this season’s giving has so far been more focused on a shorter list of crypto-supporting politicians – a mix of proven incumbents and some new candidates who are clearly friendly toward the industry.

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