The crypto-backed super PAC Fairshake spent approximately $2 million trying to defeat Oliver Gilbert in the Democratic primary for Florida’s 24th Congressional District on August 18, but Gilbert won with roughly 34.5% to 35% of the vote in a seven-candidate field. This setback highlights the limits of the crypto industry’s financial influence in American politics, despite a war chest exceeding $193 million. Fairshake, primarily funded by Coinbase and Ripple, has also spent over $1.5 million on campaigns in Alaska and Wyoming.
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