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Post: Ads Targeting Katie Porter Released by Cryptocurrency Super PAC Fairshake

Ads Targeting Katie Porter Released by Cryptocurrency Super PAC Fairshake

Key Points:

  • The Fairshake political action committee (PAC) raised more than $85 million and spent around $19 million as of December 31, 2021, based on data from Open Secrets.
  • Fairshake, a Super PAC supported by cryptocurrency companies such as Ripple and Coinbase, has launched an ad campaign targeting U.S. Senate candidate Katie Porter.
  • The Super PAC spent $2.9 million on the ad campaign, which criticizes Porter for accepting campaign contributions from “big pharma, big oil, and the big bank executives.”

Ads Targeting Katie Porter Released by Cryptocurrency Super PAC Fairshake

The Fairshake political action committee (PAC), supported by prominent cryptocurrency firms including Ripple and Coinbase, has launched an ad campaign targeting U.S. Senate candidate Katie Porter. The PAC has spent $2.9 million on the campaign, which focuses on criticizing Porter for accepting campaign contributions from industries such as “big pharma, big oil, and the big bank executives.” The ads are part of Fairshake’s efforts in the 2024 U.S. Senate race in California.

Hot Take:

The involvement of cryptocurrency companies in political campaigns through PACs demonstrates their growing influence and willingness to engage in traditional political processes. This development highlights the industry’s recognition of the importance of policy decisions and the need to shape them in their favor. As cryptocurrency continues to gain mainstream attention, we can expect more political engagement and funding from crypto-related entities.

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