The Crypto Lobby Is Spending Big Money on Democrats, and Republicans Aren’t Happy

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The Crypto Lobby Is Spending Big Money on Democrats, and Republicans Aren’t Happy
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Support for Democrats Rep. Ruben Gallego in Arizona and Rep. Elissa Slotkin in Michigan has raised eyebrows.

Democratic presidential candidate, U.S. Vice President Kamala Harris and Rep. Ruben Gallego order food at Cocina Adamex restaurant on August 9, 2024 in Phoenix, Arizona.of dollars to spend in the 2024 election on various races House and Senate throughout the U.S. And while crypto is generally associated with conservatives and especially the ideology of Donald Trump, one of theis also spending money on Democrats this cycle. And some Republicans are not happy about that. Not happy at all.

A new round of general election funding by Fairshake has drawn scrutiny that the primaries didn’t generate in Republican circles. Rep. Ruben Gallego, a Democrat running in Arizona, and Rep. Elissa Slotkin, a Democrat running in Michigan, have received commitments of about $3 million each from Fairshake, according to NBC News. As NBC notes, Slotkin had appeared to be skeptical of cryptocurrency until very recently and now holds an A rating from the nonprofit advocacy group Stand With Crypto.

“Republicans are WTF about what’s going on with Fairshake, and I think that’s a pretty bad omen for the industry, that people are wondering why our main trade association is pointing its arsenal at our friends,” NBC News quotes one anonymous crypto booster as saying.

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