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Political Action Committee
Crypto interests are planning to go after Sen. Sherrod Brown (D-Ohio) in their biggest-ever single campaign, setting aside $12 million to support the Republican candidate seeking to snatch the Senate seat from the current chairman of the Senate Banking Committee, who has been highly critical of the digital assets sector and reluctant to embrace crypto legislation.
A deluge of crypto-industry money may have helped achieve a very narrow Arizona congressional primary win this week for Yassamin Ansari, a crypto-cheering Phoenix City Council member who faced a candidate backed by Sen. Elizabeth Warren (D-Mass.)
The crypto industry has – with the addition of another $25 million from Coinbase Inc. on Monday – amassed one of the largest stockpiles of campaign cash in U.S. politics.
A $25 million donation from Andreessen Horowitz (a16z) hit the campaign coffers of the industry’s U.S. political action committee (PAC), according to a Thursday announcement from the firm, putting the amount raised by some of crypto’s biggest names at about $136 million and potentially elevating the sector to the upper echelon of campaign donors.
The U.S. crypto industry’s most prominent campaign-finance organization, Fairshake, is going after Sen. Katie Porter (D-Calif.), spending a part of its war chest to try to derail the progressive lawmaker.