A Political Action Committee (PAC) has allocated $3.7 million to support Democratic candidates running for seats in the United States House of Representatives in 2025. The funds were used in the race between Shomari Figures and Anthony Daniels in Alabama’s 2nd Congressional District. Figures emerged victorious with approximately 61% of the vote and is expected to face Republican Caroleene Dobson in the general election scheduled for November 5th.
The Federal Election Commission (FEC) data reveals that the Protect Progress Super PAC utilized around $1.7 million in donations, including contributions from Coinbase and Ripple Labs, to back Figures’ campaign between July 2023 and February 2024. Additional funds amounting to $950,000 were reported after February, which were used for purchasing advertisements supporting Figures and conducting polls.
The Protect Progress Super PAC, which is affiliated with the Fairshake Super PAC, focuses on supporting Democratic candidates who are committed to making the United States a hub for technological innovation, particularly in the realm of blockchain technology. It is worth noting that the Fairshake Super PAC previously funded attack ads against Democratic Senate candidate Katie Porter in California.
Figures’ campaign website highlights cryptocurrency as one of his key concerns, emphasizing the importance of stimulating innovation and addressing regulatory issues surrounding digital assets. In terms of campaign funding, Figures raised approximately $400,000, which accounts for 14% of the total contribution made by Protect Progress.
Josh Vlasto, a spokesperson for Protect Progress, expressed the organization’s pride in supporting leaders like Shomari Figures from both political parties, as they believe in fostering innovation and creating well-paying jobs for their communities and all Americans.
In addition to supporting Figures, Protect Progress also allocated around $1 million to back Julie Johnson’s bid for Texas’ 32nd Congressional District. Johnson secured victory in the local Democratic primary with 50.4% of the vote in March and raised approximately $1.3 million for her campaign.
Johnson’s campaign website emphasizes the significance of the United States leading the development of cryptocurrency and blockchain technology, while also expressing the need for clear regulatory guidelines within the industry. Following her primary election win, Faryar Shirzad, the Chief Policy Officer of Coinbase, congratulated Johnson on her achievement.
The upcoming general election on November 5th will determine the winners of the aforementioned congressional seats, along with 433 seats in the House of Representatives, 34 seats in the Senate, and the Presidency. These elections are being seen as a reflection of the pro- and anti-crypto sentiments within the government. One notable example is the contest between Massachusetts Senator Elizabeth Warren and lawyer John Deaton.