Crypto-aligned PACs see 11 candidates advance in primaries

Political action committees aligned with the cryptocurrency industry achieved a series of victories in primary elections held across several states this week. All 11 candidates endorsed by Fairshake and its affiliated groups advanced to the general election or won their races outright, extending a recent winning streak for industry-backed political efforts.

The results spanned nine congressional races in California, New Jersey's 8th District, and South Dakota's Senate primary. Among the winning candidates were California Democrats Zoe Lofgren, Ted Lieu, Dave Min, Lou Correa, and George Whitesides, as well as New Jersey Democrat Rob Menendez and South Dakota Republican Senator Mike Rounds. Many of these candidates have expressed support for digital asset legislation, including the CLARITY Act and the GENIUS Act, or signed pro-crypto pledges.

This sweep follows significant primary victories in Texas just one week earlier, where industry-backed groups spent more than $9 million. In Texas, Representative Al Green, a member of the House Financial Services Committee who held an F rating from the advocacy group Stand With Crypto, lost his primary race after facing opposition from a...