Crypto-Backed PAC Invests in Massachusetts Primary Race
- Protect Progress PAC spent over $189,000 to support Representative Jake Auchincloss in the Massachusetts primary.
- The PAC is affiliated with Fairshake, which invested more than $130 million in the previous election cycle.
- Democratic candidate Jason Poulos criticized the PAC’s spending and claimed Auchincloss received $77,500 from crypto-industry sources since 2020.
- Fairshake reported having $122 million cash on hand ahead of the upcoming midterms after spending approximately $3.6 million on various races in August.
- Massachusetts is among the last U.S. states to hold primaries, with general elections approaching in just over two months.
The Protect Progress PAC’s financial backing for Auchincloss highlights its strategy to influence elections through significant ad spending unrelated to candidates’ positions on crypto and blockchain issues. The involvement of crypto funding sources raises questions about transparency and influence within political campaigns.
With over $189,000 allocated for media support, Protect Progress PAC aims to sway voter opinions ahead of the primary elections.(Source)
