The cryptocurrency industry’s leading super PAC is preparing to deploy millions of dollars to help its allies in House races across the country — but not those who need it most.
Of the 32 incumbents in the House who the Fairshake PAC network plans to supportall but four are in races that, according to the nonpartisan Cook Political Report, are “safe,” meaning they are unlikely to be competitive.
“There are a lot of races that, in a year with a big battlefield, aren’t really part of that big battlefield,” said Andy LaVignedirector of policy and partnerships for the center-left group Third Way.
The spending approach allows the crypto industry to build a wide range of allies who, once in power, will continue to support its cause. This tactic also helps the super PAC rack up a staggering winning percentage that can instill fear among members when it comes to potentially acting against crypto interests. But in reality, this spending likely won’t impact the overall balance of power in the House, even as the possibility of a Democratic return to the majority threatens the industry’s agenda.
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