California Representative Katie Porter, who suffered a defeat in the primary race for the United States Senate in March, has suggested that targeted advertisements by a political action committee (PAC) may have played a role in her loss. However, she also criticized the ads for failing to contribute to a meaningful national conversation on cryptocurrency.
During an interview with Pod Save America, which was released on March 19, Porter raised concerns about the motivations behind the $10 million spent by Fairshake, a Super PAC supported by cryptocurrency firms Ripple and Coinbase, in an effort to derail her Senate campaign. According to Porter, Fairshake’s negative ads specifically targeted her but missed the opportunity to foster a productive discussion on crypto policy.
Porter emphasized that the focus should have been on engaging in a conversation about technology and crypto in Congress. She expressed disappointment that the ads did not aim to understand her perspective, educate her, or work towards a shared policy understanding.
Porter had been vying for one of California’s Senate seats but was ultimately defeated in the primary by Democrat Adam Schiff and Republican Steve Garvey in March. Fairshake had released an advertisement in February accusing Porter of accepting campaign contributions from “big pharma, big oil, and big bank executives.” However, the Sacramento Bee rated these claims as “mostly false.”
While Porter acknowledged that it is fair game for candidates to discuss crypto-related policies and potential conflicts of interest, she criticized attack ads like the ones she faced for suppressing meaningful conversation and debate on the issues. She believes that blockchain technology has the potential for positive impact and encourages robust discussions on crypto policy.
In the upcoming November runoff, Schiff and Garvey will compete against each other for the Senate seat, along with other candidates in various congressional races as part of the significant U.S. election in 2024. Additionally, John Deaton, a lawyer who has represented crypto firms, has announced his intention to run against crypto skeptic Elizabeth Warren for one of Massachusetts’ Senate seats.
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