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Protect Progress and crypto-backed PACs spend over $8 million in three states

Protect Progress and crypto-backed PACs spend over $8 million in three states

Disclosures show Fairshake-affiliated groups expanding media spending across Maryland and other races, as Maryland Democrats criticize what they call outside support from crypto billionaires.

Fact Check
Primary FEC Schedule E filings directly confirm the spending totals. Protect Progress reported $5,530,609 (MD-05/Boafo) plus $1,419,040 (NY-15/Torres) plus $516,368 (MD-06/Delaney); Defend American Jobs reported $400,022 (UT-02/Blake Moore); and Fellowship PAC reported $300,000 (NY-15/Torres). These sum to roughly $8.16 million spread across three states—New York, Maryland, and Utah—exceeding $8 million as claimed. The Cointelegraph report aggregates these figures and matches the underlying government records. The Rushern Baker campaign statement independently corroborates the Maryland-focused criticism of roughly $8 million in outside crypto and PAC spending, consistent with the claim's framing of Maryland Democrats objecting to crypto billionaire support.
Summary

Crypto-backed political groups disclosed more than $8 million in media spending to support candidates in three U.S. states, highlighting the digital-asset sector’s expanding electoral activity across federal, down-ballot and state-level races. Protect Progress, a Democratic super PAC backed by Fairshake, was previously reported as spending more than $4.9 million on Maryland House candidate Adrian Boafo, with that Maryland total later described as about $5.5 million. Fairshake-affiliated PACs have also spent about $1.5 million for New York Representative Ritchie Torres and about $12 million last week to help Alabama Republican Barry Moore win a Senate primary. In Maryland, the spending drew backlash from some Democrats, who urged a candidate to reject what they called “outside spending from crypto billionaires,” while the broader push comes as lawmakers continue negotiating the CLARITY Act in Congress.

Terms & Concepts
  • super PAC: Political committee allowed unlimited independent spending
  • CLARITY Act: Crypto market structure legislation being negotiated in Congress
  • PACs: Political action committees that raise and spend money on elections