Crypto PAC pours nearly $1M into Michigan race backing Thanedar

cryptonews07-23

A crypto-backed political action committee has spent nearly $1 million in Michigan’s 13th Congressional District Democratic primary as the industry continues directing money toward candidates it views...

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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCrypto PAC pours nearly $1M into Michigan race backing Thanedar\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-07-23 10:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://crypto.news/crypto-pac-pours-nearly-1m-into-michigan-race-backing-thanedar/><strong>cryptonews</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>A crypto-backed political action committee has spent nearly $1 million in Michigan’s 13th Congressional District Democratic primary as the industry continues directing money toward candidates it views...</p>\n\n<a href=\"https://crypto.news/crypto-pac-pours-nearly-1m-into-michigan-race-backing-thanedar/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4174","symbol_name":"机场服务","start_time":0,"source_url":"https://crypto.news/crypto-pac-pours-nearly-1m-into-michigan-race-backing-thanedar/","article_id":"2653718674","we_media_id":null,"thumbnails":[],"rights":{"source":"crypto_news_highlight","url":"https://crypto.news/crypto-pac-pours-nearly-1m-into-michigan-race-backing-thanedar/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2653718674","pubTimestamp":1784775174,"columns":[],"sourceInfo":{"source_id":"crypto_news_highlight","name":"Crypto News"},"weMediaInfo":null,"summary":"A crypto-backed political action committee has spent nearly $1 million in Michigan’s 13th Congressional District Democratic primary as the industry continues directing money toward candidates it views as supportive of digital asset policy.Protect Progress spent nearly $1 million backing Thanedar while funding opposition advertising against Donavan McKinney.Thanedar backed major crypto bills, making him a repeat target for support from industry-funded groups.Fairshake affiliates continue spending across U.S. primaries as crypto policy becomes a growing election issue.Protect Progress, an affiliate of the Fairshake network, reported more than $986,000 in spending tied to Democratic Rep. Shri Thanedar and his challenger, Michigan state Rep. Donavan McKinney, according to Federal Election Commission filings published this week. The primary is scheduled for Aug. 4.Fairshake and its affiliated groups, Protect Progress and Defend American Jobs, have targeted candidates from both major parties","collect":0,"end_time":0,"defaultTopTitle":"crypto.news","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4174":"机场服务","CRPT":"First Trust SkyBridge Crypto Industry and Digital Economy ETF","LFGY":"YieldMax Crypto Industry and Tech Portfolio Option Income ETF","PAC":"太平洋航空","STCE":"Schwab Crypto Thematic ETF","DIME":"CoinShares Altcoins ETF","DAPP":"VanEck Digital Transformation ETF","TEKX":"SPDR Galaxy Transformative Tech Accelerators ETF","GDLC":"Grayscale CoinDesk Crypto 5 ETF","NCIQ":"HASHDEX NASDAQ CRYPTO INDEX US ETF","BKCH":"AdvisorShares Sabretooth ETF","BITQ":"Bitwise Crypto Industry Innovators ETF","BITW":"Bitwise 10 Crypto Index ETF"},"translate_title":"加密货币政治行动委员会向密歇根州支持 Thanedar 的竞选投入近 100 万美元","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"STCE":0.9,"CRPT":0.9,"NCIQ":0.9,"BITW":0.9,"DIME":0.9,"BITQ":0.9,"LFGY":0.9,"GDLC":0.9,"PAC":1.5,"DAPP":0.9,"TEKX":0.9,"BKCH":0.9},"content_text":"A crypto-backed political action committee has spent nearly $1 million in Michigan’s 13th Congressional District Democratic primary as the industry continues directing money toward candidates it views as supportive of digital asset policy.\n\n\nSummary\n\n\n\nProtect Progress spent nearly $1 million backing Thanedar while funding opposition advertising against Donavan McKinney.\nThanedar backed major crypto bills, making him a repeat target for support from industry-funded groups.\nFairshake affiliates continue spending across U.S. primaries as crypto policy becomes a growing election issue.\n\n\n\nProtect Progress, an affiliate of the Fairshake network, reported more than $986,000 in spending tied to Democratic Rep. Shri Thanedar and his challenger, Michigan state Rep. Donavan McKinney, according to Federal Election Commission filings published this week. The primary is scheduled for Aug. 4.\nThe spending includes advertising supporting Thanedar and opposing McKinney. Protect Progress took a similar approach during the 2024 election, when it spent more than $1 million supporting Thanedar before he won the Democratic primary with 54.9% of the vote. He later won the general election with 68.6%.\nThanedar has supported several crypto-related measures in Congress, including the CLARITY Act and the GENIUS Act. He also backed legislation aimed at promoting blockchain development. His voting record has placed him among lawmakers receiving support from crypto-aligned political groups.\nMcKinney has responded by making the outside spending part of his campaign message. He has not built a public record centered on digital asset policy, but he criticized the industry’s financial support for his opponent.\n\nThe crypto lobby just dumped $1.2 million into our race to try to stop our movement. They’re running attack ads against me to pay Shri back for the votes he took allowing Trump to make over $1b off crypto. Detroit, we need to show Shri & his crypto cronies we can’t be bought. pic.twitter.com/4POkIXIFya— Donavan McKinney (@DonavanMI13) July 21, 2026\n\nMcKinney also accused Thanedar of supporting legislation backed by President Donald Trump and the crypto industry. The comments came as Fairshake-linked groups continued spending in Democratic and Republican congressional contests across the country.\nCrypto PAC spending grows across 2026 elections\nThe Michigan spending forms part of a wider campaign by crypto-backed PACs during the 2026 election cycle. As crypto.news previously reported, Public Citizen estimated in June that the crypto industry had contributed about $189 million to the election cycle, exceeding its spending during the 2024 campaign.\nFairshake and its affiliated groups, Protect Progress and Defend American Jobs, have targeted candidates from both major parties based largely on their approach to digital asset policy. Recent reports put the network’s available funds at roughly $191 million, giving the groups resources to enter additional races before the November midterms.\nFairshake-linked PACs spent more than $8 million across congressional primary contests in Maryland, New York and Utah in June. Protect Progress directed $5.5 million toward Maryland Democrat Adrian Boafo and more than $1.4 million toward New York Rep. Ritchie Torres.\nBoafo later won his Democratic primary. Crypto.news reported that his victory added to a series of wins by candidates supported by crypto-funded political groups during the 2026 primary season.\nMichigan race draws wider political attention\nThe Michigan contest has also attracted attention beyond crypto policy. Thanedar faces one of the toughest primary challenges of his congressional career, while McKinney has received support from progressive figures including Sen. Bernie Sanders and Rep. Rashida Tlaib.\nThanedar, meanwhile, recently received endorsements from House Democratic leaders. Axios reported on July 22 that lawmakers in the party were paying close attention to the race, although some did not view a possible Thanedar defeat with the same concern seen in other contests involving progressive challengers.\nCrypto-linked spending has added another issue to the campaign. Thanedar’s campaign also reportedly invested about $3.7 million in crypto-related companies and recorded losses exceeding $600,000 during the second quarter of 2026. The reported investments have received more scrutiny as Protect Progress increases its support for his reelection effort.\nFairshake affiliates target more congressional races\nProtect Progress has also expanded its activity beyond Michigan. Reports citing FEC filings show the PAC spent more than $100,000 supporting Democratic Rep. Greg Stanton in Arizona’s 4th District. Stanton, who supported the CLARITY and GENIUS bills, won his July 21 Democratic primary against progressive challenger Kai Newkirk.\nMeanwhile, Defend American Jobs has spent more than $65,000 supporting Republican Amanda McKinney in Washington’s 4th Congressional District, where voters will also hold their primary on Aug. 4. The seat is open after Rep. Dan Newhouse announced he would not seek reelection.\n\nWith my background in banking, I understand the importance of financial freedom and innovation. I support crypto because an America First economy must keep innovation, investment, and opportunity right here in the U.S. approx. 1 in 5 Americans own cryptocurrency. Digital assets…— Amanda McKinney for Washington (@_AmandaMcKinney) May 14, 2026\n\nThe latest spending comes as opposition to crypto-funded political activity also grows. Sanders recently pledged to challenge the political influence of the crypto industry while campaigning in Minnesota. His comments focused on campaign spending rather than digital assets themselves.\n\n\n\n\n\n                Read more:\n            \n\n                Japan’s first Bitcoin ETF could arrive by 2028 with ¥3T inflows","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.46.0","shortVersion":"4.46.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2653718674","isCrawlerRequest":true}