Protect Progress PAC, a political action committee primarily funded by Ripple Labs and Coinbase, has poured more than $2 million to defend Rep. Shri Thanedar’s seat in Michigan’s 13th congressional district. According to its latest expenditure filings, the Fairshake PAC affiliate added $884,240 specifically to back Thanedar’s campaign. At the same time, it spent over $150,000 to attack the campaign of his challenger, McKinney. This latest capital injection doubled its total campaign spending compared to the previous week ahead of the upcoming Tuesday primary election.
This influx of lobbying money is no coincidence, but rather the result of a reciprocal relationship established in Congress.
Crypto Legislation Paid in Full
Throughout his tenure, Thanedar has consistently supported crypto-friendly legislation. He has been an active backer of the GENIUS Act, which focuses on stablecoin regulation. Thanedar also endorsed the CLARITY Act, a bill designed to overhaul the national crypto market structure. This legislative track record is precisely why Protect Progress PAC stepped in directly to secure his seat.
The multimillion-dollar influx of campaign cash has drawn backlash from his opponent. McKinney openly alleged that the financial support is directly tied to national political elites. “The crypto lobby is paying off my opponent as a reward for helping Trump make over $1 billion,” McKinney said, commenting on the donations.
Who Is Behind the Maneuver?
McKinney’s allegations refer to reports on the former US President’s personal profits. Trump reportedly generated over $1.4 billion from crypto investments throughout 2025. Those significant gains include proceeds from the launch of the Official Trump (TRUMP) memecoin project and the World Liberty Financial platform.
The aggressive push in Michigan is only one piece of a much broader lobbying operation. Fairshake PAC, the parent entity championing the crypto industry, has reportedly spent more than $170 million throughout the 2024 election cycle. Its campaign finance operations are now actively spreading across several key states, including Michigan, Texas, Illinois, Washington, and Alabama.
In addition, another affiliate, Defend American Jobs PAC, has also joined the fray. The group spent $65,000 in Washington state and deployed $511,000 in Alabama. This aggressive strategy underscores that crypto lobbying is no longer limited to courtroom arguments.
For Michigan voters, this Tuesday’s primary election serves as a new testing ground. The crypto industry is now leveraging campaign spending power to ensure US laws are shaped by politicians who support its agenda. Reported via Cointelegraph.
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
