Crypto-backed PACs Fuel $3.5M Spending on US Primaries

Crypto-backed PACs have made significant investments in the 2026 US primaries, with a total spend of $3.5 million on media campaigns for 11 winning candidates.

The candidates supported by these groups include Democrats Jacqui Irwin, Ted Lieu, and Rob Menendez, as well as Republican Mike Rounds, who won their respective primaries for congressional and Senate seats.

The heavy lifting came from two PACs, Protect Progress and Defend American Jobs, which are tied to Fairshake—a super PAC largely funded by crypto giants Coinbase and Ripple Labs.