Crypto PAC's $5.5 million Congress pick gets Maryland win, more crypto allies advance
Key takeaways
- Still, he has a record of pro-crypto legislative efforts in his state and favorably completed advocacy group Stand With Crypto's political questionnaire to earn that group's "A" rating.
- The open seat drew a massive number of Democratic candidates to replace outgoing Rep.
- All of them also won their races or were winning, with McClain Delaney in an early lead with votes still being counted.
House of Representatives.The huge contribution drew some negative attention from the state's Democratic senator, Chris Van Hollen.The industry also helped other incumbent members of Congress in Maryland, Utah and New York, where the super PAC spent $1.3 million on pro-crypto Democrat Ritchie Torres.The leading crypto political action committee, Fairshake, often backs its favored hopefuls for the U.S. House of Representatives with ad campaigns in the hundreds of thousands of dollars, but it devoted Senate-level money — some $5.5 million — to Adrian Boafo, a Democrat who just won his party's nomination for a Maryland seat on Tuesday.
The state delegate's dominant victory records another success for the industry's super PAC and its affiliates after having notched a big primary election win with its $12 million devoted to Barry Moore's Alabama Senate bid last week.
Boafo's campaign website says he's looking to "provide responsible regulatory clarity for innovators building the next generation of financial tools," though it also included consumer-protection language often associated with crypto-resistance Democrats. Still, he has a record of pro-crypto legislative efforts in his state and favorably completed advocacy group Stand With Crypto's political questionnaire to earn that group's "A" rating.