A Political Action Committee (PAC) allocated a total of $3.7 million to support Democratic candidates in Alabama and Texas for the upcoming 2025 United States House of Representatives race.
In the Democratic runoff on April 16 for Alabama’s 2nd Congressional District, Shomari Figures emerged victorious over Anthony Daniels with approximately 61% of the vote. Figures is expected to compete against Republican Caroleene Dobson in the general election, which is scheduled for November 5.
Based on data from the Federal Election Commission (FEC), 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. A spokesperson from Protect Progress informed Cointelegraph that an additional $950,000 was disclosed after February, with the funds being used for purchasing advertisements in support of Figures and conducting polling.
The Protect Progress website declares that the Super PAC “supports Democratic candidates who are dedicated to establishing the United States as the hub for innovators constructing the next generation of the internet,” with a specific emphasis on promoting blockchain technology. The group is affiliated with the Fairshake Super PAC, which funded attack ads against Democratic Senate candidate Katie Porter in California.
Figures’ campaign website included cryptocurrency as one of his focal points, aiming “to stimulate innovation and technological advancement” and address regulatory concerns related to digital assets. According to FEC records, Figures’ campaign raised approximately $400,000, which accounts for 14% of the total funds contributed by Protect Progress for his election bid.
“Shomari believes in collaborative efforts to support innovation and create well-paying jobs for his community and all Americans,” stated Josh Vlasto, a spokesperson for Protect Progress, in an interview with Cointelegraph. “We are proud to endorse leaders like Shomari from both political parties.”
In addition to supporting Figures, Protect Progress also allocated approximately $1 million to back Julie Johnson’s campaign for Texas’ 32nd Congressional District in the House. In the March local Democratic primary, Johnson secured victory with 50.4% of the vote and also raised approximately $1.3 million for her campaign.
Johnson’s campaign website emphasized the need for the U.S. to take the lead in developing crypto and blockchain technology while expressing concerns about establishing clear industry regulations. Following the primary election results, Coinbase’s chief policy officer, Faryar Shirzad, congratulated Johnson in a message posted on X.
The U.S. general election on November 5 will determine the winners of the aforementioned congressional seats, as well as the remaining 433 seats in the House of Representatives, 34 seats in the Senate, and the Presidency. Other elections are being viewed as a representation of pro- and anti-crypto stances in government, including the contest between Massachusetts Senator Elizabeth Warren and lawyer John Deaton.
Magazine: Opinion: GOP crypto enthusiasts are almost as problematic as the Democrats’ “anti-crypto army.”