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Crypto-backed PAC scales back ad spending in Massachusetts primary
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- DeepHorus
The crypto-backed Fairshake PAC has significantly scaled back its ad spending in a key Massachusetts primary, allocating just $189,000 to support Representative Jake Auchincloss. This move represents a notable reduction from the PAC's larger national spending strategy. The expenditure was made by the Protect Progress PAC, an affiliate of Fairshake, which was responsible for over $130 million in political advertising during the 2024 election cycle.
This spending is part of the crypto industry's broader effort to influence the 2026 elections. Fairshake and its affiliates reported having $122 million cash on hand ahead of the 2026 midterms after spending about $3.6 million in August on races in Alaska, Florida, and Wyoming. The PAC's spokesperson, Geoff Vetter, affirmed in August that the organization is not slowing down its efforts for the November elections.
According to Federal Election Commission records, the $189,000 was used for media supporting Auchincloss in Massachusettsâ 4th congressional district primary. Candidate Jason Poulos claimed some funds were used to create AI-generated mailers backing the incumbent. He also stated that Auchincloss has accepted $77,500 directly from crypto-industry sources since 2020.
Poulos criticized the PAC's involvement, noting that Auchincloss voted for the Digital Asset Market Clarity Act in July 2025. This market structure bill is currently awaiting consideration in the U.S. Senate. The candidate publicly called on the lawmaker to renounce the PAC's efforts to influence the primary.
The scaled-back spending in Massachusetts highlights a strategic shift in the crypto PAC's approach for certain races. Despite its massive war chest, the focus appears to be on specific, targeted endorsements rather than blanket spending in every primary. This occurs as Massachusetts prepares to be one of the last states to hold its primary, with just over two months until the general election.
The development underscores the growing but calculated influence of cryptocurrency money in American politics. Future 2026 midterm races will likely see continued, but potentially more selective, financial involvement from industry-backed PACs. Observers will watch how this targeted spending impacts both primary outcomes and the broader political discourse on digital asset regulation.
