Progressive congressional candidates are waking up to a new variable that is upending the electoral calculus of races across the country: cryptocurrency. Some candidates are finding it advantageous to take crypto-sympathetic positions, while others are facing an onslaught of crypto spending that is reshaping their primaries.
In a 2021 special election, former state Sen. Nina Turner faced more than $2 million in outside spending by the super PAC Democratic Majority for Israel, swinging the race for Shontel Brown in the closing weeks. In her rematch, Turner faces a new obstacle. A super PAC bankrolled by crypto billionaire Sam Bankman-Fried, Protect Our Future, has already spent more than $1 million backing Brown, according to Federal Election Commission reports. And this week, the Congressional Progressive Caucus PAC endorsed Brown after having backed Turner last year.
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