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Crypto PAC Pours Another $1M into Michigan House Race

Many US states are scheduled to hold party primaries for the midterms, and a PAC with ties to the crypto industry is seeking to influences key races through spending on media.

YayaNewsFinancial news writer2026-08-02 08:40Updated: 2026-08-02 08:400 ViewsSource CoinTelegraph

YayaNews contributes financial news and market context through the YayaNews editorial workflow.

Many US states are scheduled to hold party primaries for the midterms, and a PAC with ties to the crypto industry is seeking to influences key races through spending on media.

Crypto PAC Pours Another $1M into Michigan House Race

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Written by

Turner Wright

staff writer

Reviewed by

Sam Bourgi

staff writer

Written by

Turner Wright

staff writer

Reviewed by

Sam Bourgi

staff writer

Crypto PAC pours another $1M into Michigan House race

Latest News

Published

Aug 1, 2026

Michigan incumbent Shri Thanedar’s re-election bid against other Democratic candidates is getting more about crypto with an infusion of ads funded by an industry-aligned PAC.

An affiliate of a political action committee (PAC) funded largely by contributions from cryptocurrency companies Ripple Labs and Coinbase has poured more cash into ads for next week’s primary race in Michigan’s 13th Congressional District.

According to Federal Election Commission (FEC) filings as of Thursday, the Protect Progress PAC had

spent

more than a combined $2 million on media to support Michigan Representative Shri Thanedar in the state’s 13th district and oppose his Democratic challenger, Donavan McKinney.

The most recent filings effectively

doubled what the PAC had reported spending

a week prior, with an additional $884,240 on ads to support Thanedar and more than $150,000 to oppose McKinney.

Source:

FEC

During his time in the US House of Representatives, Thanedar voted in favor of the stablecoin-focused GENIUS Act legislation and the crypto market structure bill currently under consideration in the Senate, the Digital Asset Market Clarity (CLARITY) Act. He also cosponsored the Promoting Innovation in Blockchain Development Act in an effort to protect developers.

In a July 21 statement on the PAC spending supporting Thanedar, McKinney

said

“the crypto lobby is paying my opponent back for helping Trump make over $1 billion since taking office.” He was likely referring to the US President disclosing that he

earned more than $1.4 billion from crypto investments

in 2025, including from his memecoin, Official Trump (TRUMP) and through his family’s business, World Liberty Financial. Many Democrats have accused Trump of using his position to profit from the presidency through laws like GENIUS.

Cointelegraph reached out to Thanedar’s and McKinney’s campaigns for comment on the PAC expenditures but did not receive an immediate response.

US senators sent revised ethics rules to White House for CLARITY Act: Report

Protect Progress is an affiliate of the Fairshake PAC, which was responsible for spending more than $170 million in the 2024 US election cycle through media supporting candidates it considered favoring crypto industry-aligned policies. The Michigan primary is scheduled for Tuesday, but the PAC and its affiliates have already poured millions of dollars into 2026 races in Texas, Illinois and other states.

The US consumer advocacy group Public Citizen reported in June that Fairshake and its affiliates were responsible for

spending more than $82 million

out of the roughly $189 million crypto companies had used in the 2026 election cycle. Fairshake reported holding a $193 million war chest as of January.

PAC spending in Washington and Alabama with primaries looming

In addition to Michigan’s primaries, the Fairshake affiliate Defend American Jobs PAC spent more than $65,000 on media to support a Republican running in Washington’s 4th congressional, according to FEC filings. Washington is scheduled to hold primaries the same day as Michigan.

Alabama, scheduled to hold primaries on Aug. 11, has also been a focus for Fairshake. FEC filings showed that Defend American Jobs

spent

more than $511,000 on media to support Jerry Carl Jr., a Republican who represented the state’s 1st congressional district from 2021 to 2025. Notably, the former Alabama lawmaker was one of the wealthiest in the state’s House delegation, with a

reported

net worth of up to $15 million in 2023.

Magazine:

Crypto lobby spending on Republicans far outpaces Democratic support

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