Crypto-aligned political action committees (PACs) helped back multiple candidates in US congressional primaries on Tuesday, with several of those supported—spending more than $8 million in total on media in the races described—emerging as winners. The results set up new matchups for the November election and highlight how digital-asset interests are increasingly intersecting with mainstream electoral politics. Fairshake and its affiliates were among the most active, according to disclosures referenced in the reporting. The PAC network, largely backed by major crypto companies including Coinbase and Ripple Labs, reported combined media spending of about $8 million to support candidates considered favorable to digital asset policy priorities in the next congressional session. Key takeaways In New York, Democrat Ritchie Torres won the 15th district primary with 71.9% of the vote. In Utah, Republican Blake Moore won the 2nd district primary with 57.5% of the vote. Fairshake affiliate...
Congressional scrutiny has intensified around World Liberty Financial (WLFI) after Senate Democrats raised concerns about a major foreign-linked investment. The lawmakers are seeking additional information about a reported transaction involving entities connected to the United Arab Emirates. Meanwhile, the issue has emerged alongside ongoing debates over digital asset legislation in Washington. Senate Democrats Seek Review of WLFI UAE Investment Five Democratic senators have urged Republican committee leaders to examine a reported investment involving WLFI. The lawmakers requested a congressional hearing and highlighted potential conflicts linked to foreign interests. As a result, the issue has drawn fresh attention to the company’s ownership structure. According to the senators, the investment agreement was completed shortly before Donald Trump returned to office. They stated that a UAE-linked partner received a 49% stake in WLFI through the arrangement. Additionally, the lawmakers re...