Fairshake Spends Over $13 Million in Illinois Primaries
Illinois Lieutenant Governor Juliana Stratton defeated a Fairshake-backed rival in the Democratic Senate primary, while another Fairshake-targeted candidate also won despite millions in crypto PAC spending.
Crypto industry super PAC Fairshake suffered a major setback in Illinois after Lieutenant Governor Juliana Stratton defeated Representative Raja Krishnamoorthi in the Democratic Senate primary, despite Krishnamoorthi receiving more than $8 million in Fairshake backing. Stratton, backed by Governor JB Pritzker, is now widely favored to win the November general election in the Solid Democratic Senate seat and take office in 2027. Stand With Crypto gave Stratton an "F" rating based on a single remark about "MAGA-backed crypto bros," while Krishnamoorthi received an "A" based on his voting record and questionnaire responses. In another Illinois race, La Shawn Ford also won after Fairshake spent nearly $2 million opposing him. The report additionally noted that Senator Tim Scott said the stalled crypto market structure bill is advancing behind the scenes and that he expects to review a first proposal this week.
- super PAC: A super PAC can raise and spend unlimited funds independently of candidates, typically for advertising and other political campaigning.
- PAC: A political action committee is an organization that raises and spends money to support or oppose candidates and influence election outcomes.
- crypto market structure bill: A proposed U.S. crypto law that would set rules for how digital asset markets are regulated and which agencies oversee different parts of the sector.