Fairshake Spends $2M Advertising Against Anti-Crypto Rep. Jamaal Bowman
The Fairshake group, a political action committee (PAC) backed by prominent crypto firms Ripple and Coinbase, has allocated over $2 million towards opposing the incumbent candidate in the Democratic primary for New York’s 16th Congressional District.
Recent data from the United States Federal Election Commission reveals that Fairshake has invested heavily in a media campaign aimed at thwarting the reelection of Democratic Representative Jamaal Bowman.
As of June 16, outside interest groups had collectively contributed approximately $9 million in opposition to Bowman, who is facing a primary challenge from Democrat George Latimer on June 25.
The attack advertisement funded by Fairshake does not explicitly mention cryptocurrencies or blockchain technology but instead accuses Rep. Bowman of promoting “dangerous conspiracy theories” throughout his career.
Notably, prominent Democratic figures such as Senator Bernie Sanders, Senator Elizabeth Warren, and Alexandria Ocasio-Cortez have voiced their support for Bowman’s reelection in response to earlier attack ads funded by a different Super PAC.
Congressional records indicate that Rep. Bowman has voted against several bills relevant to the crypto industry.
These include the Financial Innovation and Technology for the 21st Century (FIT21) Act, which garnered support from 71 Democrats and 208 Republicans in the House of Representatives, as well as the CBDC Anti-Surveillance State Act and a joint resolution aimed at overturning a Securities and Exchange Commission rule concerning banks’ handling of cryptocurrencies.
In contrast, Latimer, a former New York State Senator, has made few public statements regarding digital assets.
Moe Vela, a former Director of Administration for then-Vice
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