Crypto-focused PAC has used $9M to support Democratic candidates since January
Categories: Crypto News US
Protect Our Future, a political action committee set up in January, with backers including FTX CEO Sam Bankman-Fried, has spent more than $9 million to support candidates running for seats in the U.S. House of Representatives.
According to expenditures reported to the U.S. Federal Election Commission, as of April 14, Protect Our Future has used $9,024,317 toward supporting the campaigns of Carrick Flynn, Lucia McBath, Shontel Brown and Jasmine Crockett to represent separate districts in Oregon, Georgia, Ohio and Texas, respectively. McBath and Brown are incumbent candidates, while Crockett currently represents Texas’ 100th District in the state’s House of Representatives.
Protect Our Future used more than $5 million toward mainly digital, television and radio ad buys for Flynn, a political newcomer who lived outside the United States for several years until recently. The PAC contributed roughly $2 million in ad buys and production for McBath, and $1 million each for Crockett and Brown.
Lobbying and campaigns with a focus on the crypto and blockchain industry could become more politically advantageous in the United States with the technology both at the center of attention with sanctions against Russia and President Joe Biden’s March executive order establishing a national policy framework on digital assets. In February, Coinbase filed for a PAC aimed at supporting "crypto-forward lawmakers," but has reported no expenditures with the Federal Election Commission as of the time of publication.