Crypto PAC pours another $1M into Michigan House race

An affiliate of a political action committee (PAC) funded largely by contributions from cryptocurrency companies Ripple Labs and Coinbase has poured more cash into ads for next week’s primary race in Michigan’s 13th Congressional District.According to Federal Election Commission (FEC) filings as of Thursday, the Protect Progress PAC had spent more than a combined $2 million on media to support Michigan Representative Shri Thanedar in the state’s 13th district and oppose his Democratic challenger, Donavan McKinney. The most recent filings effectively doubled what the PAC had reported spending a week prior, with an additional $884,240 on ads to support Thanedar and more than $150,000 to oppose McKinney. Source: FECDuring his time in the US House of Representatives, Thanedar voted in favor of the stablecoin-focused GENIUS Act legislation and the crypto market structure bill currently under consideration in the Senate, the Digital Asset Market Clarity (CLARITY) Act. He also cosponsored the Promoting Innovation in Blockchain Development Act in an effort to protect developers. In a July 21 statement on the PAC spending supporting Thanedar, McKinney said “the crypto lobby is paying my opp...