Protect Progress, a crypto-backed Super PAC, has spent $1.7 million on media buys to support Democratic candidates Yassamin Ansari and Andrei Cherny in the Arizona congressional primary.
Points
- Protect Progress Super PAC spends $1.7M on media buys in Arizona
- Supporting Democratic candidates Yassamin Ansari and Andrei Cherny
- Significant media investments ahead of July 30 primary
- Arizona’s 1st and 3rd Congressional District races
- Crypto industry’s influence on political campaigns
Protect Progress, a political action committee （PAC） affiliated with Fairshake and backed by crypto companies, has invested at least $1.7 million to support two Democratic candidates running for Congress in Arizona. According to a July 18 report by Cointelegraph, Protect Progress spent over $1.3 million on a media buy for Yassamin Ansari, a candidate for Arizona’s 3rd Congressional District. Additionally, a July 20 filing with the Federal Election Commission revealed that the Super PAC spent around $415,000 on media buys for Andrei Cherny, running in the state’s 1st Congressional District.
Arizona’s 1st District, currently represented by Republican David Schweikert, is considered a competitive race, with the state being a swing state in the 2024 U.S. Presidential Election. The media buys come ahead of the July 30 primary for Democrats.
Cherny, co-founder of the financial firm Aspiration, has demonstrated support for crypto and digital assets, making him a favored candidate for the crypto-backed PAC. His company partnered with an NFT marketplace in 2021 to promote sustainability in crypto.
Competitive race
Six Democratic candidates, including former state representative Amish Shah, are running in the July 30 Arizona primary. Shah, who voted against a 2022 Arizona House bill to clarify income tax issues around crypto, is seen as Cherny’s main competitor.
Protect Progress’s significant spending in these races underscores the growing influence of the crypto industry on political campaigns. The committee, affiliated with the Fairshake Super PAC, has previously funded attack ads against Democratic candidates in other states and supported various pro-crypto candidates.
解説
- Political influence: The substantial media investments by Protect Progress highlight the crypto industry’s growing influence on political campaigns.
- Support for crypto-friendly candidates: The PAC’s backing of candidates like Andrei Cherny reflects the industry’s focus on promoting favorable regulations and policies.
- Competitive races: The significant spending in competitive districts like Arizona’s 1st highlights the strategic importance of these races.
- Crypto and politics: The involvement of crypto-backed PACs in political campaigns underscores the intersection of digital assets and political influence.