Affiliates of Protect Progress, a political action committee heavily funded by cryptocurrency firms Ripple Labs and Coinbase, have made substantial ad buys ahead of Michigan’s 13th Congressional District primary. Filings with the Federal Election Commission (FEC) disclosed that Protect Progress spent over $2 million on advertising to support incumbent Democratic Representative Shri Thanedar and to oppose challenger Donavan McKinney.
Spending surge targets Thanedar, ramps up political stakes
The recent financial disclosures reveal that the PAC effectively doubled its ad spending compared to the previous week, allocating an additional $884,240 to support Thanedar and more than $150,000 to campaign against McKinney. These significant investments have brought the primary contest under the spotlight, demonstrating the crypto industry’s growing influence in US elections.
Donavan McKinney, who is challenging Thanedar in the Democratic primary, described the recent ad surge as payback from the crypto lobby for Thanedar’s purportedly favorable stance toward former President Donald Trump. “The crypto lobby is paying my opponent back for helping Trump make over $1 billion since taking office,” McKinney stated, referencing Trump’s disclosure of earning more than $1.4 billion from crypto investments in 2025 via assets such as his Official Trump (TRUMP) memecoin and business interests in World Liberty Financial. Democratic critics have previously accused Trump of leveraging his presidency for personal gain through laws like GENIUS.
Donavan McKinney expressed concern over the surge in political spending, suggesting it represented the crypto industry rewarding political alliances that have benefited high-profile figures such as former President Trump.
Protect Progress is an affiliate of Fairshake PAC, a major political action committee actively campaigning for candidates who prioritize favorable crypto regulation. Fairshake spent over $170 million during the 2024 US election cycle to support candidates allied with digital asset interests.
The Michigan primary is set for Tuesday. Meanwhile, Fairshake and its affiliates have already spent millions in advance of future electoral races, including those in Texas and Illinois for the 2026 cycle.
Public Citizen, a US consumer advocacy organization, reported in June that Fairshake and related PACs were responsible for spending over $82 million out of the $189 million contributed by crypto companies in the ongoing 2026 election cycle. Fairshake reported assets of $193 million as of January, reinforcing its status as one of the most well-funded political committees in the tech and finance sectors.
Mini dictionary: Fairshake PAC — An independent political action committee promoting candidates who support cryptocurrency industry policies, known for significant spending in recent US election cycles.
PAC activity expands in Washington and Alabama
In addition to Michigan, Defend American Jobs PAC, another Fairshake affiliate, invested over $65,000 to support a Republican candidate in Washington’s 4th Congressional District. Washington’s primary will also occur on the same day as Michigan’s. These efforts signal a broader campaign to influence pro-crypto policy at both state and national levels.
Alabama has also seen notable spending, with Defend American Jobs PAC allocating over $511,000 to support Jerry Carl Jr., who represented Alabama’s 1st Congressional District from 2021 to 2025. Financial records list Carl among the wealthiest politicians in Alabama, reporting up to $15 million in net worth in 2023.
The scale of political investment from digital asset-backed groups is set to expand further as additional state primaries and the 2026 races approach.
Analysts note that Fairshake and its affiliates are focusing their resources to back candidates perceived as supportive of digital asset innovation, while also targeting opponents through substantial negative ad spending. These strategies underline the crypto industry’s commitment to shaping future regulatory landscapes through political channels.
