James Walkinshaw, a democratic candidate seeking to replace the late representative Gerry Connolly for the 11th district of Congress of Virginia, won a major party after a cryptocurrency supported by the political action committee (PAC) who spent more than $ 1 million to support his race.
On Saturday, Democrats in the 11th Virginia district held the main firehouse to decide on a possible replacement for Connolly after his death while in the office. A special election to determine who represents the district will be held on September 9.
Walkinshaw defeated other candidates to be a democratic nominee for the home seat, and the cryptocurrency industry may play a role in its success, given media reports purchased by the PAC PROGRESS PAC. According to Federal Election Commission filings, the committee spent More than $ 1 million to support Walkinshaw in June.
Protect Development is an affiliate of the PAC fairshake. The committee, primarily funded by contributions from cryptocurrency companies Coinbase and Ripple Labs, will likely play an important role in the 2024 US federal election after spending more than $ 130 million in the media to support what the “pro-crypto” group is considered “anti-criticism” groups.
“We are proud to support a candidate to stand strong in the face of baseless attacks and never doubt his commitment to economic change and opportunity,” a fairshake spokesman Cointelegraph said in Walkinshaw’s main win. “Voters saw smear – and it was clarified that support for crypto and blockchain was not only good policy, but a winning political issue on the party lines.”
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Participation in Virginia election is one of Fairshake’s latest expenditure Following the special elections In April for two chairs in Florida’s home, where PAC is affiliated, defends jobs in America, spending more than $ 1.5 million.
Crypto supporters connected to certain companies contributed a joint $ 4,000 For Candidates in New Jersey’sberry’s gubnatorial primaries in June. Cointelegraph could not find any reports that suggest expenditures of crypto -supported crypto.
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The crypto looking for 2026 midterm elections
In January, Fairshake reported that it would be held more than $ 116 million cash in hand “to support candidates dedicated to promoting crypto change and responsible regulation” in the 2026 midterms. The PAC may be looking to expand the gap between federal lawmakers who generally support crypto policies and those who oppose them.
The advocacy group stands with crypto reported The 270 “pro-crypto” candidates won seats in the US House of Representative and Senate in the 2024 election, from 535 seats in the same room. In the current US Congress session, lawmakers in the Senate have Stablecoin’s law has been passed And it’s in the process of drafting a digital bill of digital market structure.
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