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Michigan primary spending surge
A cryptocurrency-aligned political action committee (PAC) affiliate is spending heavily in a Michigan Democratic primary that will decide who advances to the November general election, with Protect Progress PAC pouring more than $986,000 into ads backing Rep. Shri Thanedar while also funding messaging against his challenger, Donavan McKinney, ahead of an Aug. 4 primary.
The spending comes as Fairshake and related entities seek to influence elections on “pro-crypto” policy priorities, and the coverage says the Michigan race is one of several contests referenced in recent FEC disclosures.
The ads were reported as coming from FEC filings posted as of Tuesday, and the expenditures were described as supporting Democratic incumbent Shri Thanedar and opposing his Democratic primary challenger Donavan McKinney.
The coverage also ties the Michigan push to Protect Progress’ earlier investment in Thanedar’s political trajectory, saying the PAC reportedly spent about $1 million supporting Thanedar in 2024.
In that 2024 cycle, the article says Thanedar won the Democratic primary with 54.9% of the vote and then carried the general election with 68.6% against Republican and other opponents.
McKinney attacks the PAC
McKinney’s response to the Protect Progress spending was pointed, with the coverage quoting him as saying, “Shri has voted for every bill [Donald] Trump and the crypto lobby have brought to Congress,” in a Tuesday statement on the PAC spending.
In the same statement, the article adds that “The crypto lobby is paying my opponent back for helping Trump make over $1 billion since taking office.”
The coverage contrasts McKinney’s lack of described public statements on digital assets with Thanedar’s record, saying Thanedar voted for crypto-related bills while serving in the House, including the CLARITY Act, GENIUS Act and Promoting Innovation in Blockchain Development Act.
It also says Thanedar reportedly lost more than $600,000 in the second quarter of 2026 after investing $3.7 million of campaign funds into crypto companies.
Beyond Michigan, the reporting says Protect Progress PAC also spent more than $100,000 on media supporting Representative Greg Stanton’s reelection bid in Arizona, where Stanton won his primary on Tuesday for Arizona’s 4th congressional district with 65% of the vote.
War chest and wider primaries
The Michigan primary is presented as part of a broader map of political spending, with FEC reporting in the coverage saying Fairshake and affiliated entities reported having $191 million available in a “war chest” intended for election influence across multiple key races.
The same reporting links that capacity to a network of PACs connected to the crypto industry’s political engagement, including Fellowship, described as backed by Cantor Fitzgerald and Anchorage Digital, and the Blockchain Leadership Fund, described as a hybrid PAC backed by Anchorage and Chainlink Labs.
In Washington’s party primaries scheduled for Aug. 4, the coverage says the Defend American Jobs PAC spent more than $65,000 on media to support Amanda McKinney, a Republican running for Washington’s 4th district.
It also notes that Representative Dan Newhouse announced in 2025 that he would not pursue reelection in the district.
Separately, The Nation frames the broader cycle as “Crypto, AI, and AIPAC Super PACs” spending in lockstep against progressives, saying the three interests have combined to spend more than $180 million so far, according to a review of Federal Election Commission records.
