Politicians "Change Their Mind" On Crypto After Campaign Donations

A leading pro-cryptocurrency political group has dumped millions of dollars into high-profile Michigan and Arizona Senate races to back Democrats against Donald Trump-endorsed candidates.

Fairshake PAC and its affiliated super PACs are reserving millions in advertising spending to influence three U.S. Senate races this cycle, and have announced commitments of about $3 million each to Democrats Rep.

Ruben Gallego, who is running in Arizona, and Rep. Elissa Slotkin, a candidate in Michigan, it said on Wednesday.

For years, Slotkin had expressed skepticism of cryptocurrency until an apparent change of heart in recent months. The Michigan lawmaker earned an F-rating from Stand With Crypto as recently as March.

Gallego, who is facing off against Republican Kari Lake, had failed in the past to back legislation that was supported by the crypto industry and, in 2022, praised on social media a candidate who “slayed the Crypto beast.”

JD Vance was viewed as a win for the industry. Vance has called for looser regulation of crypto and disclosed that he has $250,000 to $500,000 worth of bitcoin among his assets.

“The big political question here is, can Harris convince proponents of industry that she has done a 180, or is it just talk?” he said.

“Because they will not believe that she will cross Elizabeth Warren.”