James Walkinshaw, a Democratic candidate who tried to replace the late Gerry Connolly for the 11th Congressional District of Virginia, won the party’s primary election after spending more than $1 million on crypto-backed political action committee (PAC) to support his race.
Democrats in the 11th District of Virginia held a primary election for a fire station to decide that Connolly might replace after his death after his tenure. A special election to determine who will represent the region will be held on September 9.
Walkinshaw beat other candidates to become a Democratic candidate for the House seat, and the cryptocurrency industry may have played a role in his success, given reports on the media acquisition of PAC PAC PAC. According to the Federal Election Commission’s documents, spend More than $1 million was supported by Walkinshaw in June.
Protection progress is a member of Fairshake PAC. Funded primarily by donations from cryptocurrency companies Coinbase and Ripple Labs, the committee may play a major role in the 2024 U.S. federal elections after spending more than $130 million in the media in support of the group’s view as “Pro-Crypto” candidates or oppose “Anti Anti-Crypto.”
“We are proud to support a candidate who has never wavered against baseless attacks,” a Fairshake spokesman told Cointelegraph on Walkinshaw’s main victory. “Voters saw it through the smear and made it clear that support for crypto and blockchain is not only a good policy, but a cross-party victory political issue.”
Related: How blockchain-based voting restores trust in the election process
Participation in the Virginia election is one of Fairshik’s latest spending After the special election In April, two Florida home seats, in which PAC members defended U.S. jobs, costing more than $1.5 million.
Crypto supporters are related to certain companies Contributed $4,000 For candidates in the June New Jersey gubernatorial primary. Cointelegraph was unable to find any reports suggesting PACS spending backed by cryptocurrencies.
https://www.youtube.com/watch?v=sumyySrjvzm
Seeking cryptocurrency for midterm elections in 2026
As of January, Fairshake reported that it held more than $116 million in cash in the mid-2026 mid-2026 “support candidates committed to advancing cryptocurrency innovation and responsible regulations.” The PAC may be seeking to widen the gap between federal lawmakers who generally support crypto policies and those who oppose them.
Advocacy group stands with cryptocurrency Report In the 2024 election, 270 “pro-Claputo” candidates won seats in the U.S. House of Representatives and Senate in the 2024 election. At the current U.S. Congress, Senate Members Stablecoin legislation has been passed And drafting a digital asset market structure bill.
Magazine: Crypto voters are already undermining the 2024 election – Will continue
