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The cryptocurrency industry began flexing its political muscle in 2022, and crypto spending has only increased since. In advance of this year’s midterm elections, crypto-focused PACs have amassed more than $221 million, according to Follow the Crypto, a website run by tech writer Molly White that tracks industry spending.
Crypto invested millions in the recent Illinois primaries and ended up with mixed results. But as the political calendar gets more crowded and regulatory battles in Congress heat up, industry-aligned super PACs such as Fairshake and Protect Progress are expected to ramp up their political spending.
Asked what races might be next on crypto’s agenda, Geoff Vetter, a spokesman for Fairshake, said in an email that the PAC doesn’t comment on “political strategy or decision making, but will continue to support pro-crypto leaders and oppose anti-crypto candidates with the resources to win the races we enter.”
There are clues if you know where to look. As The New York Times reported earlier this month, candidates are increasingly telegraphing their support for the crypto industry’s political agenda on their websites and on social media. The Times story highlighted pro-crypto remarks from several candidates who competed in primaries in Illinois and Texas.
If candidate websites and statements offer hints, Southern California’s 48th District might be a looming battleground. The seat, currently held by retiring Republican Darrell Issa, was redrawn last year to make it more hospitable to Democrats. Among those competing in the June 2 nonpartisan primary are Republican Jim Desmond and Democrats Ammar Campa-Najjar and Marni von Wilpert.
Campa-Najjar, a former Obama administration official who is an officer in the U.S. Navy Reserve, signaled his stance on crypto in a statement posted on his website Wednesday. He expressed support for policies that bring “clarity to digital assets, protecting the right to self-custody, and establishing a responsible stablecoin framework.”
Another way to determine which candidates might draw crypto support? Look at Stand with Crypto’s database. The industry-backed nonprofit grades candidates based on their responses to a questionnaire. Campa-Najjar got an A.
Starting gate
Feeling the pain? Several Republican senators have come under fire recently for remarks that appeared to downplay the affordability crisis. Democrats say the comments suggest the GOP is out of touch with the concerns of cash-strapped Americans and have helped carve out a pathway for Democrats to flip the Senate.
Democrats encouraged: Texas Republicans redrew the state’s congressional map last year in a quest to win five additional seats. But that strategy is running into an increasingly disgruntled Latino electorate. Democrats crunched the numbers from this month’s primary elections and found encouraging signs.
#ILResults: Illinois closed out the March primary stretch Tuesday, with Democratic voters nominating Lt. Gov. Juliana Stratton in the race to succeed retiring Sen. Richard J. Durbin. Voters also picked the Democratic nominees for four open House seats in the Chicago area, with former Rep. Melissa Bean one step closer to returning to the chamber next year. Looking back at an expensive primary season in the Prairie State, we found that big spenders had mixed results, while Gov. JB Pritzker and retiring Reps. Jan Schakowsky and Danny K. Davis proved local endorsements can still be powerful.
MAGA rebrand: The National Republican Congressional Committee has named nine candidates to its initial list of House hopefuls eligible for extra resources in this year’s midterm elections. The program was once known as Young Guns but has been rebranded MAGA Majority.
ICYMI
Endorsements (Democratic edition): Massachusetts Sen. Elizabeth Warren rolled out a series of Senate endorsements this week, backing state Sen. Mallory McMorrow in Michigan, oyster farmer Graham Platner in Maine and state Sen. Zach Wahls in Iowa. EMILY’s List, which backs female Democrats who support abortion rights, endorsed pediatrician Annie Andrews, who is challenging Republican Sen. Lindsey Graham in South Carolina. And the newly launched pro-Palestinian PAL PAC is backing Democrat Saikat Chakrabarti, a former tech worker and chief of staff to Rep. Alexandria Ocasio-Cortez, in his quest to succeed Nancy Pelosi in Congress.
Endorsements (Republican edition): Maggie’s List, which backs conservative women running for statewide and federal office, is supporting Louisiana Rep. Julia Letlow for Senate, former ICE Deputy Director Madison Sheahan in Ohio’s 9th District and Rep. Ann Wagner, who is seeking reelection in Missouri’s 2nd District. And Senate Majority Leader John Thune and National Republican Senatorial Committee Chairman Tim Scott of South Carolina are backing Oklahoma Rep. Kevin Hern’s bid to succeed Sen. Markwayne Mullin should he be confirmed as Trump’s Homeland Security secretary.
#KSSEN: Army veteran Noah Taylor joined the crowded Democratic primary to unseat Marshall in Kansas. Democrats haven’t won a Senate election in Kansas since 1932 — the nation’s longest Senate drought.
Running out in Texas: Republican pastor and former presidential candidate Ryan Binkley dropped out of the runoff election for Texas’ redrawn 32nd District. Binkley, who took 22 percent of the vote on March 3, endorsed attorney Jace Yarbrough, who captured just under 50 percent of the primary vote.
It’s 2028 somewhere: Meanwhile, Scott tells The Post and Courier that he intends to seek reelection in two years despite previously promising that his current term would be his last.
Nathan’s notes
Inside Elections with Nathan L. Gonzales rolled out more House race rating changes this week: nine in Democrats’ favor and three benefiting Republicans. While the GOP does have an opportunity to maintain control of the chamber, Nathan writes, the House battleground is expanding, suggesting that gains by Democrats are likely.
What we’re reading
First-time candidate, big-dollar donations: Republican Michael Alfonso, who’s running for the House from northern Wisconsin, has collected political contributions from dozens of lobbyists, business executives and political action committees tied to the transportation industry, ProPublica found. Alfonso’s father-in-law happens to be Transportation Secretary Sean Duffy.
Public vs. private: Publicly, Massachusetts Sen. Edward J. Markey is barely acknowledging his primary challenger, Rep. Seth Moulton. But behind the scenes, the veteran Democrat is acting like a seasoned pro, The Boston Globe reports.
Show me the money: NOTUS explores a politics-focused artificial intelligence company co-owned by California Rep. Eric Swalwell that is proving popular with many of his Democratic colleagues.
Yet another redistricting campaign: The Washington Post looked at both parties’ efforts to persuade Virginia voters to side with them on next month’s redistricting referendum, which would overhaul the commonwealth’s congressional map through the 2030 elections.
The count: 7
That’s the number of incumbent senators who previously served as lieutenant governor of their respective states. They include Republicans Jim Risch of Idaho and Jim Husted of Ohio and Democrats Tim Kaine of Virginia, Brian Schatz and Mazie K. Hirono of Hawaii, Tina Smith of Minnesota and Jon Fetterman of Pennsylvania.
Of the seven, Risch and Husted are on the ballot this fall, while Smith is retiring.
Illinois Lt. Gov. Juliana Stratton appears poised to join this group next year after winning the Democratic Senate nomination in her deep-blue state. Minnesota Democrat Peggy Flanagan is another lieutenant governor running for Senate this cycle.
Key race: #MESEN
Candidates: Republican Sen. Susan Collins is seeking a sixth term, but for now, the action is on the Democratic side in the lead-up to the June primary. Gov. Janet Mills faces oyster farmer and military veteran Graham Platner in a contest that has already drawn significant national attention. Former USAID official David Costello, who challenged independent Sen. Angus King in 2024, is also running.
Why it matters: As the only Senate Republican to represent a state carried by Kamala Harris in 2024, Collins is Democrats’ top target this year. But Democrats first must settle a primary contest that pits the party’s establishment, which is backing Mills, against its left flank, where Platner has formed his base of support. The question of age is also front and center in the primary. Mills, 78, would be the oldest freshman senator if elected, while Platner is 41.
Cash dash: Collins has led the fundraising race, bringing in $10.2 million since her last reelection with $8 million on hand at the end of last year. Platner has proved to be a strong fundraiser, raking in $7.9 million since launching his campaign in August and starting the year with $3.7 million banked. Mills, who launched her campaign in October, raised $2.7 million through Dec. 31 with $1.3 million on hand.
Backers: Mills entered the race with support from the Democratic Senatorial Campaign Committee and Senate Minority Leader Charles E. Schumer, as well as Nevada Sen. Catherine Cortez Masto. Platner has the backing of Sens. Bernie Sanders of Vermont, Martin Heinrich of New Mexico, Ruben Gallego of Arizona and, as of Thursday, Elizabeth Warren of Massachusetts.
What they’re saying: The Democratic primary took a turn this week when Mills released her campaign’s first negative ad against Platner, who responded with his own spot. Mills’ ad highlights posts about rape that Platner made years ago on Reddit and features several women reacting to his comments. It closes with video showing a tattoo resembling a Nazi symbol that Platner last year said he’d gotten covered as a voiceover says, “The closer you look, the worse it gets.” Platner in turn released an ad, saying to the camera, “These words are not who I am,” adding that he posted the comments at “a time in my life when I was struggling deeply after returning from war.” Both campaigns have held press events this week with supporters as the candidates position themselves as the best option to challenge Collins.
Terrain: Maine, as a whole, has voted Democratic in every presidential election since 1992, with Harris carrying the state by 7 points in 2024. Still, Collins has proved difficult for Democrats to dislodge, winning her 2020 reelection by 9 points. Inside Elections with Nathan L. Gonzales rates this year’s race Tilt Republican.
Wild card: A Democrat hasn’t won a Senate race in Maine since 1988. (While he caucuses with Democrats, Maine Sen. Angus King is a registered independent.)
Coming up
Monday is the candidate filing deadline for the 2026 primaries in Arizona and New Jersey. Both parties are eyeing pickup opportunities in the Garden State, while Democrats have their eyes on a handful of seats in Arizona.
Photo finish
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