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The Coin Rise 2025-03-22 09:23:46

Crypto Super PACs Rally Behind Republican Candidates in Florida’s Special Elections

Crypto Super PACs Rally Behind Republican Candidates in Florida’s Special Elections

A powerful network of crypto Super PACs is making its influence felt in Florida’s upcoming April 1 special elections for the U.S. House of Representatives. According to a March 21 report by Politico, the network—comprising Fairshake, Defend American Jobs, and Protect Progress—is pouring significant funds into backing two Republican candidates vying for congressional seats. Leading the charge is Defend American Jobs, which is set to spend $1.2 million on ad campaigns supporting Florida State Senator Randy Fine. Fine is aiming to replace Michael Waltz, who vacated his House seat to serve as President Donald Trump’s national security adviser. Known for his pro-crypto stance, Fine has previously advocated for “clear rules of the road” to foster digital asset innovation, declaring on X in January, “Floridians want crypto innovation!” In addition, the Super PAC will spend $345,000 to promote Florida Chief Financial Officer Jimmy Patronis, who is competing for the seat formerly held by Matt Gaetz. Gaetz resigned after Trump nominated him for U.S. Attorney General, a position he later withdrew from. Patronis, an outspoken crypto supporter, previously proposed allocating part of Florida’s retirement funds toward digital asset investments, highlighting his commitment to integrating crypto into the state’s financial framework. Crypto PACs Are Betting Big The April 1 elections carry significant weight, as they are part of four current vacancies in the U.S. House of Representatives. With two of those seats in Florida, the outcomes could tighten the House’s power dynamics. If Democrats were to win all four seats, Republicans would be left with just a one-person advantage in the chamber—a precariously slim majority. Defend American Jobs, a rising force in the crypto-political sphere , has already made substantial financial commitments. During the January primaries, the PAC spent over $500,000 backing Fine and $200,000 supporting Patronis. Both candidates emerged victorious in their respective districts—Florida’s 6th and 1st—paving the way for their general election bids. Growing Influence in U.S. Politics While Fairshake tends to support candidates across party lines , Defend American Jobs leans heavily Republican. According to OpenSecrets, the PAC spent nearly $60 million from 2023 to 2024, almost exclusively backing GOP candidates. This crypto-political influence underscores the industry’s growing presence in shaping U.S. policy, particularly in states like Florida, where lawmakers are increasingly embracing digital asset innovation. The post Crypto Super PACs Rally Behind Republican Candidates in Florida’s Special Elections appeared first on TheCoinrise.com .

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