In the days before the California Senate primary, political ads calling Rep. Katie Porter a fake, an actor and a hypocrite inundated social media platforms and television programs. The California Senate race is one of many in which the industry has signaled that it will boost candidates who support more favorable crypto laws in Washington, and oust those who don’t. Fairshake was the largest outside spender in the Senate primary, but to what extent it moved the needle is a matter of debate. “When you look at everything else going on in that race, I’m extremely skeptical that they had any impact,” Kelleher said of the cryptocurrency ads. Stand With Crypto also said Porter voted “nay” last summer in the House finance committee markup of a cryptocurrency bill favored by the industry.

Source: Los Angeles Times March 15, 2024 18:38 UTC