Crypto-backed Political Action Committee spends $2 million in Michigan primary, doubling spending fr

Crypto-industry-backed PAC invested $2 million in Michigan's primary, doubling advertising spending from the previous week.

Affiliates of the Political Action Committee Protect Progress, which was heavily funded by cryptocurrency companies Ripple Labs and Coinbase, launched a massive advertising campaign ahead of Michigan's 13th Congressional District primary. Documents disclosed by the Federal Election Commission (FEC) show that Protect Progress spent more than $2 million on advertising to support incumbent Democratic Rep. Shri Thanedar and oppose its challenger Donavan McKinney.

Spending surge targets Tanedar, political game escalates

The latest financial disclosures show that the Political Action Committee (PAC)'s advertising spending actually doubled from the previous week, allocating an additional $884,240 to support Tanedar and investing more than $150,000 in the anti-McKinney campaign. These huge investments have attracted much attention to the primary election and highlighted the growing influence of the cryptocurrency industry in U.S. elections.

Donovan McKinney, who challenged Tanedar in the Democratic primary, described the ad surge as a "reward" from the crypto lobby for Tanedar, who allegedly held a favorable stance against former U.S. President Donald Trump. "The crypto lobby is rewarding my opponent for helping Trump make more than $1 billion since taking office," McKinney said. He was referring to Trump's disclosure that he had made more than $1.4 billion from crypto investments in 2025 through the official TRUMP memin and World Liberty Financial's commercial interests. Democratic critics have previously accused Trump of using the presidency to seek personal gain through laws such as the GENIUS Act.

Donovan McKinney expressed concern about the surge in political spending, which he believed represented the crypto industry rewarding political alliances that benefited well-known figures such as former President Trump.

Protect Progress is an associate of Fairshake PAC, a main political action committee that actively supports candidates who prioritize favorable crypto regulation. The Fair Swing PAC has spent more than $170 million in the 2024 U.S. election cycle to support candidates aligned with digital asset interests.

The Michigan primary is scheduled to be held on Tuesday. At the same time, Fair Swing and its affiliates have invested millions of dollars in advance for future elections, including those in Texas and Illinois in the 2026 cycle.

A June report by the U.S. consumer rights organization Public Citizen stated that during the 2026 election cycle, crypto companies donated a total of $189 million, of which more than $82 million was spent by Fair Swing and related PACs. As of January, Fair Swing reported assets of $193 million, consolidating its status as one of the most well-funded political committees in technology and finance.

Mini Dictionary: Fair Swing PAC-an independent political action committee that promotes candidates who support policies in the cryptocurrency industry, has spent significantly in the U.S. election cycle in recent years.

PAC activities expand in Washington and Alabama

In addition to Michigan, the Defend American Jobs PAC, another affiliate of the Fair Swing, has invested more than $65,000 to support a Republican candidate in Washington's 4th Congressional District. Washington's primary will also be held on the same day as Michigan. The actions indicate that the group is conducting broader lobbying at the state and federal levels to influence legislation that supports crypto policy.

Alabama also saw significant spending. Defend American Jobs PAC allocated more than 0 to support Jerry Carl Jr., The latter will represent Alabama's 1st Congressional District from 2021 to 2025. Financial records show that Carr is one of Alabama's richest politicians, with a declared net worth of up to $15 million in 2023.

As more state primaries and the 2026 election approach, the scale of political investment by groups backed by digital assets will further expand.

Analysts point out that Fair Swing and its affiliates are concentrating resources to support candidates seen as supporting digital asset innovation, while hitting opponents with a slew of negative advertising. These strategies highlight the crypto industry's determination to shape the future regulatory landscape through political channels.