Crypto PACs Drop $8M+ on Primaries Like It's a Layer-2 Airdrop, Maryland Gets the Biggest Bag 🗳️

Crypto-aligned political action committees have committed more than $8 million to influence primary races in New York, Maryland and Utah ahead of Tuesday's elections, filings with the Federal Election Commission show, with spending that could shape the composition of the US Congress in 2027. The Protect Progress PAC, a Fairshake affiliate that backs Democratic candidates, reported media spending of more than $516,000 on behalf of April McClain Delaney in Maryland's 6th congressional district, with the bulk of its outlays directed at two contested primaries in Maryland and New York. The committee disclosed combined expenditures of more than $5.5 million and $1.4 million, respectively, in Maryland's 5th and New York's 15th congressional districts in support of Adrian Boafo and Ritchie Torres.

Protect Progress reported roughly $24,000 in spending on ads opposing Quincy Bareebe and $74,000 on media opposing Harry Dunn, both running against Boafo in Maryland's 5th district. Dunn, Bareebe and fellow primary candidate Rushern Baker issued a joint statement on June 15 criticizing the spending, saying: "We are calling on Governor Moore, Senator Alsobrooks, and Congressman Hoyer to answer directly: Do you support nearly $8 million in outside spending from crypto billionaires and AIPAC in a Maryland Democratic primary? If not, they should say so publicly and call on Adrian Boafo to reject it." Defend American Jobs, another Fairshake affiliate, reported spending more than $400,000 supporting Republican Blake Moore in Utah's 2nd congressional district.

The Fellowship PAC, backed by $11 million from Cantor Fitzgerald and Anchorage, disclosed $300,000 in spending supporting Torres' New York campaign. The new filings follow what a Fairshake spokesperson called the "biggest spend of the cycle" in last week's Alabama primary runoff, where more than $12 million in PAC-backed advertising helped Republican Barry Moore win the contest.

With Colorado and Arizona primaries scheduled for June 30 and July 21, respectively, Fairshake and other crypto-aligned PACs are expected to redirect spending to those states. As of Monday, none of the PACs had disclosed significant expenditures in congressional races in either state. In 2024, Fairshake and its affiliates spent more than $10 million on media supporting Ruben Gallego's Arizona Senate race and $2.1 million backing Democratic Representative Yadira Caraveo in Colorado's 8th district.