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CoinDesk 2025-01-29 16:14:20

Fairshake's Florida Wins Likely to Amp Up List of Crypto-Supported Allies in Congress

Fairshake's Florida Wins Likely to Amp Up List of Crypto-Supported Allies in Congress

The crypto political action committee that stunned U.S. politics last year, Fairshake, successfully weighed in again in a pair of Florida special elections to replace Republican members of Congress, likely adding to its list of lawmakers who have the industry to thank for campaign support. A primary election closed Tuesday night, giving pro-crypto candidates supported by $700,000 in Fairshake money overwhelming victories in both seats. Florida's 1st District vacated by former Representative Matt Gaetz and 6th District vacated by former Representative Mike Waltz are both staunchly Republican, meaning the primary winners — Jimmy Patronis in the 1st and Randy Fine in the 6th — are likely to move on to general-election wins in the April 1 ballot. The two Florida seats in the House of Representatives were open after President Donald Trump tapped their occupants for other duties — including Gaetz, who flamed out as Trump's attorney-general pick under accusations he'd paid for sex with a minor and purchased illegal drugs. The other was the seat of Waltz, who Trump elevated as his national security adviser. The expected wins would also further reinforce the GOP's slim House majority, which remains so narrow that a gust of political wind in the wrong direction could derail the Republican agenda there. One of Fairshake's super-PAC affiliates, Defend American Jobs, is the one that backed the Florida politicians. Patronis was the state's chief financial officer who was pulling for Florida to embrace crypto in its own state finances, and Fine had also publicly argued for supporting crypto. The PAC devoted about $200,000 to backing Patronis and $500,000 for Fine. "We were proud to support both candidates with TV ad campaigns," said Josh Vlasto, a spokesman for Fairshake, which is still sitting on more than $100 million to spend on the next congressional campaign cycle. "The industry looks forward to collaborating with them and the hundreds of members on both sides of the aisle committed to working together to pass responsible regulation." Super PACs are permitted to spend unlimited sums on ads for or against candidates, as long as they're "independent expenditures" purchased without involvement from the campaigns. Fairshake spent $139 million to help get 53 crypto-friendly lawmakers into 2025's new Congress, so one in ten of the sitting lawmakers were backed by Fairshake-funded ads. Read More: Crypto PAC Fairshake Steps Up For an Encore in Florida Special Elections

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