Crypto Super PAC Invests in Florida Congressional Seats
Crypto’s chief political action committee has put money on its picks for the Florida congressional seats vacated by one of President-elect Donald Trump’s closest allies, Matt Gaetz, and the politician Trump tapped as a national security advisor, Michael Waltz.
Importance of Replacement
With an extremely tight majority in the House of Representatives, the replacement of the two Florida Republicans is paramount to the party’s political agenda in Congress. Crypto super PAC Fairshake — through its affiliate PAC, Defend American Jobs — has begun spending hundreds of thousands of dollars on pro-crypto names in the special elections set to fill the seats.
Background on Gaetz and Waltz
Gaetz was briefly President-elect Donald Trump’s pick for U.S. attorney general but he resigned from consideration and from Congress as pressures mounted from a House ethics investigation. Trump turned to embrace the state’s chief financial officer, Jimmy Patronis, as his favored candidate to fill the resulting opening in the House of Representatives. Patronis is benefiting from about $200,000 in ad spending from Fairshake.
Representative Waltz’s vacancy is being pursued by state Senator Randy Fine, who also has the backing of Trump. The candidate posted on social media site X this week that “Floridians want crypto innovation!”
Super PAC Support
Super PACs can buy ads for or against candidates as long as they’re “independent expenditures” not approved or coordinated by the candidates. Fairshake spent $139 million to help get 53 allies into the new session of Congress, with one in ten of the sitting lawmakers benefiting from crypto-funded ads.
“We are keeping our foot on the gas,” Fairshake spokesman Josh Vlasto said on Friday.
Future Funding
The PAC still has a towering $103 million in funds at its disposal for the next congressional election cycle, putting it far ahead for the 2026 races.